£1m expansion boost for Switalskis
SWITALSKIS Solicitors has secured a £1m funding package to support its expansion strategy of organic growth and acquisitions.
The Yorkshire law firm aims to grow its turnover by 33% over the next twelve months to £8m.
Switalskis was established in 1993 as a niche legal practice in Wakefield.
It has grown to boast an additional five practices across West Yorkshire in Leeds, Bradford, Huddersfield, Dewsbury and Halifax and employs around 170 staff.
It covers 10 areas of family, crime and child law and works with legal aid clients and private clients.
The firm became a Limited Liability Partnership in November 2008.
Switalskis has received the funding as part of the Enterprise Finance Guarantee Scheme (EFG) from The Royal Bank of Scotland.
John Durkan, managing partner at Switalskis, said: “We have grown the business considerably over the past few years, becoming one of the largest Legal Aid practices in the region.
The EFG scheme funding will ensure we hit our growth targets whilst at the same time ensuring we are well placed to cope with the rapidly changing legal landscape.
“In order to do this it was vital to get the correct funding structure in place and I’m delighted that our long term bankers, RBS, were able to tailor a package to suit our needs.”
Funding was provided through Jon Hughes, of RBS’s commercial banking team based in Wakefield.
The £1m funding package was provided as part of the EFG Scheme, the Government backed scheme designed to provide businesses with the necessary working capital or investment finance. Under the scheme, the Government will guarantee 75% of any loans made.
Mr Hughes, relationship manager at RBS, said: “Switalskis is a great example of a local business that consistently performs well due to the quality of its offering.
“The expansion will continue to strengthen their position in the market and hopefully provide them with more opportunities to develop their business.”
