Simpson Millar completes deal to buy rival
LAW firm Simpson Millar, which has a Birmingham operation, has completed its acquisition of fellow legal business Colemans CTTS.
The deal, understood to be valued at £9m, will see it double income and, it suggests, positioning the business as a market leader in consumer legal services.
Simpson Millar now boasts a combined revenue in excess of £40m and it has strengthened its market positions in key business lines including travel law, personal injury and property conveyancing.
With the backing of its parent company, Fairpoint PLC, Simpson Millar has become the largest trading operation within the business, accounting for more than 60% of total group revenue.
Peter Watson, managing partner at Simpson Millar, said: “Our strategy of delivering clear, transparent and affordable legal services products to UK consumers, mirrors that of our new partners at Colemans-CTTS.
“The acquisition adds their complementary best of breed expertise and significant processing capability to our own. The result will be an increasingly efficient and responsive law firm, which delivers legal services in step with the needs and life events of consumers.”
Janet Tilley of Colemans CTTS added: “We are so pleased to have completed this deal with Simpson Millar and we look forward to sharing best practice with our new partners.
“The legal services industry is changing rapidly and to be part of an organisation like Fairpoint which has the resources to help us realise our own objectives and build genuine scale within the consumer market is very exciting indeed.”
In its financial year ended 30 April 2015, Colemans – whose locations include Kingston-upon-Thames and Manchester – generated unaudited consolidated revenues of £19.0m and unaudited pre-tax profits of £2.3m.
