Manchester's Linder Myers bulks up with three acquisitions in a week
Manchester headquartered Linder Myers has bought fellow Manchester firm SNG Commercial Law out of administration in the same week that it completed mergers with Chester-based Drummonds Solicitors and Lancashire-based Senior Calveley & Hardy Solicitors.
The buyout of SNG, formerly known as Shammah Nicholls, marks the second acquisition of its type for Linder Myers since December last year, when the firm acquired another Manchester firm, Rowlands Field Cunningham (RFC), in a pre-packed administration (3 January 2012).
Along with SNG, the firm also completed mergers with Drummonds Solicitors and Senior Calveley & Hardy Solicitors on Friday (28 September), tie-ups that have boosted the firm’s annual turnover to £19.7m and brought total headcount to 315 as it set its sights on growing from a £10m to £25m operation in three years.
The deal with Senior Calveley & Hardy Solicitors signals further growth in Lancashire following the firm’s merger with Rostron’s in 2009 and Apfel Carter in 2010.
The firm’s managing partner Bernard Seymour said in a statement: “We’re well under way to achieving our target total fee income of £25m by 2015 and will continue to actively seek other firms to build on both critical mass, expertise and further broaden Linder Myers range of legal services.”
Readers' comments (2)
Everything a £1 | 1-Oct-2012 9:55 pm
Bought it? How much does a law firm cost when buying one out of administration? £1? More? Less? Nice spin though.
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Anonymous | 2-Oct-2012 10:25 am
It's an interesting business model - but aren't they going to end up with a hodge podge of disparate distressed purchases that are difficult to weld into a profitable whole?
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