LAW firm Simpson Millar 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, position the business as a market leader in consumer legal services.
The Leeds-headquartered firm 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, 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: “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.”
Unaudited figures for the financial year to April 2015, Colemans – whose locations include Kingston-upon-Thames and Manchester – generated revenues of £19.0m and pre-tax profits of £2.3m.
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