Liverpool boutique Silverbeck Rymer is set to pursue an aggressive growth strategy after more than doubling its turnover during the past three years.
The insurance litigation firm has emerged as a key player in the North West, recording a turnover of £16.4m for the 2004-05 financial year and revenue per partner of £4.1m.
Legal director and senior partner Kingsley Hayes told The Lawyer that the firm was embarking on an ambitious strategy to increase its market share. “Our strategy is to continue to aggressively grow our defendant and claimant sides,” he said. “If that means pursuing them, then so be it.”
Unlike any other niche firm, Silverbeck has just four partners, 28 qualified lawyers and 172 fee-earners. Hayes said the firm had not made up any partners for more than three years.
“A few years ago the Rymer brothers, who own the firm, decided it made more sense to adopt a business model with a board of directors than having a traditional equity partnership,” said Hayes. “As that transition has been taking place, we haven’t made up any partners.”
Silverbeck recently invested heavily in its IT services, including adding a client portal to its website for updates on each case.
The firm moved into a new 30,000sq ft headquarters in Liverpool earlier this year.