Record deals year for law firm
WORCESTERSHIRE law firm Harrison Clark Rickerbys has enjoyed a record year, with the firm completing 110 deals with a total of value of close to £1bn.
The deals encompass national and international clients as well as local firms.
HCR’s 24-strong corporate team handled the full range of corporate transactions, from mergers and acquisitions to investments and management buy-outs.
Rod Thomas, managing partner and head of the corporate team in Worcester, said: “The financial year 2015/2016 was an outstanding year and a record for us – our corporate expertise and strength is taking us into the top flight of firms in the West Midlands and enhancing our national standing too.
“Our ability to work both locally and internationally means that we can support the regional economy by bringing big business to invest at a local level – that flexibility sets us apart.”
In outlook, he said while the economy was slow and business optimism not what it was, the firm was still confident it could achieve a lot.
“Our team’s experience and depth of resource, especially working with private equity and international transactions, has stood us in good stead. We’ve increasingly been involved in the early stages of discussions around deals, helping with structuring and general advice as well, so we really have the chance to help businesses grow as well as take the next step,” he said.
Deals completed included:
• acting for Paragon Bank in the £117m acquisition of Five Arrows Leasing Group
• acting for RCapital when investing in and disposing of Rolling Luggage to Samsonite in America
• the disposal of West-Bromwich based hosting provider C24 to Six Degrees Group
• acting for management with Westbridge Capital in their investment in Tewkesbury firm DB Systems
• acting for GIL Investments in two management buy-outs – of Ashworths from Jewson Building Products and of MCP Environmental
Mr Thomas said that as well as the large deals, the firm had been active in helping small firms to grow.
“That sort of deal keeps local economies alive and helps entrepreneurs to move into new sectors – at a time of low growth, that is exactly what we need to encourage,” he said.
“The length of the business relationships we have developed is important too – we worked with RCapital from its first investment in Rolling Luggage to the sale of the company to Samsonite, which was a truly international deal.
“We know that long-term involvement benefits the client most of all because trust and detailed knowledge has built up over that period of time, which eases the stresses of a transaction for them.”
HCR has 400 staff and partners based at offices in Worcester, Cheltenham, Birmingham, Hereford, the Wye Valley and the Thames Valley.
