Geldards has confronted its third consecutive year of flat financials with plans to acquire niche public services practice TPP Law.
The acquisition which will bolster Geldards’ national public services offering and develop its client base in the South East.
Geldards’ turnover remained static at the 2012/13 year-end at £20m compared with £21m the previous year.
Net profit at the firm stood still at £5m and average profit per equity partner increased fractionally from £230,000 to £238,000.
Geldards’ chief executive Jeff Pearson said acquisition was part of the firm’s strategy to build on its existing public sector practice and to expand into a wider offering for public authorities and the growing number of companies and charities active in public services markets.”
The firm will continue to operate under the name TPP Law alongside the Geldards brand for an unconfirmed period of time.
TPP Law’s managing director Mark Johnson has become a partner and head of public services at Geldards. A spokesperson said he would be joined by at least two associates and two other solicitors but was unable to confirm exactly who how many of the legacy firm’s original staff had been brought over.
Johnson said in a statement on the acquisition: “The government’s programme of public service reform is generating strong demand for legal services to create partnerships and new service models in education, local government and offender management services.”
The addition of TPP will builds on Geldards partnership with Kent Legal Services which created the Law:Public brand targetting public sector work across England and Wales at discounted rates (22 February 2010).