US firm digs ABS idea

Americans have long proved immune to Britain’s charms. Be it Jammie Dodgers or sarcastic humour, our love of pork pies, cups of tea and Mr Bean have failed to hit it big stateside. But one thing has US firms whetting their lips, and it’s not a puffed-up Yorkshire pudding cooked in beef dripping. It’s the prospect of gaining an ABS licence. Yum.

We’re talking about US consumer firm Jacoby & Meyers, which seems to be embracing the opportunities in the UK’s Legal Services Act by enlisting the help of private equity boutique MJ Hudson to move into the UK market, with plans to acquire similar firms in the UK and Europe under an ABS banner.

The move, which sees the pair form a joint venture, Jacoby & Meyers Europe, marks another step in the shakeup of the UK legal landscape sparked by the Legal Services Act. Jacoby & Meyers is no small operation, with 130 offices all over the US, and this venture could see it become a major name in the UK.

They’ll have to drink tea and be sarcastic, though.

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