Harrison Clark Rickerbys achieve third record year

HCR’s managing partner, Rod Thomas

A BUOYANT deals market has helped Midlands law firm Harrison Clark Rickerbys to achieve a third record year.

In the financial year ended March 31, 2015, the firm’s 21-strong corporate department advised on transactions worth in excess of £336m.

Beyond this, the firm said it was also seeing continued signs of improvement in the overall business economic climate.  

Rod Thomas, managing partner, said: “As we reported last November after our first six months’ results, our business services lawyers are continuing to observe more economic positivity amongst both our regional and national clients.  There is certainly more confidence in the market for deals to happen, and we’re seeing new funding streams, as well as an increase in funding from family office money, particularly coming out of London.”  

Harrison Clark Rickerbys’ corporate legal team, based at offices in Worcester, Cheltenham, Hereford, Ross-on-Wye, the Thames Valley and Birmingham, comprises nine partners and 12 fee earning staff. It is one of the country’s largest teams outside the major cities.

“In terms of our own progress, Harrison Clark Rickerbys remains in a strong place, both between the major cities of Birmingham and Bristol, and with an ever increasing workflow coming from London.  More opportunities are presenting themselves to our corporate team thanks to their expertise, their pro-active approach and their use of wider networks to make deals happen,” added Thomas.  
 
“Our continued growth is a particular achievement given that the overall economic climate in the UK has remained tough during the past three years.”
 
In the past six months, since its last announcement, the firm said its Cheltenham corporate team had notched up some significant business deals, which have included a range of major sales and acquisitions both locally and further afield.

The team led the local sale of St Cloud Healthcare to an international acquirer and also the high profile sale of airport luggage retailer Rolling Luggage to travel luggage brand Samsonite.  Members of the team acted for Green Resources in its acquisition of Global Solidarity Forest Fund to create the largest African forest plantation company outside of South Africa. The team also helped GIL Investments to acquire Ashworth, a £32m-turnover distribution company which was sold by its French parent Saint-Gobain Building Distribution.  
 
In other deals, the firm advised on the sale of voice and data network infrastructure provider Proximity Communications to telecoms and data managed services company Maintel Holdings for £12m.  Acting for The Mothership Group in its acquisition of Escape Club in Brighton, worth £3.8m, involved property, banking and corporate legal teams.  HCR also acted for Worcester College of Technology on its merger with North East Worcestershire College, forming the Heart of Worcestershire College – one of Worcestershire’s highest profile deals of the past year.

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