South East firm ASB Law is looking to shore up its volume business with a cash injection from external investors.
The volume arm, which is branded ‘Aspire’ and which is set to turn over £2m this year, specialises in personal injury ;and ;residential conveyancing work.
ASB managing partner Andrew Clinton said: “We’re talking to one or two equity houses and a number of other potentially interested parties.”
The firm has also moved Aspire into a new location a mile away from its main Maidstone offices and has sublet the space to a housing association. The firm expects that the measure will result in a saving of £200,000 a year.
ASB cut its cost base by 15 per cent in the last financial year, partly through closing its Brighton and Horsham offices and consolidating the reduced staff numbers into existing offices (The Lawyer, 4 August 2008).
To receive our free Lawyer News Daily news and comment email, click here. Or get the latest news, features and comment as it's published with our free RSS feed.