Silverbeck Rymer unveils post-ABS expansion plans

Liverpool firm Silverbeck Rymer, one of the first to announce a conversion to an ABS, has unveiled plans to create 300 new positions over the next 12 months.

The firm agreed to sell its business to AIM-listed Quindell in a deal worth almost £20m in January following the implementation of the Legal Services Act (24 January 2012).

Subject to the acquisition obtaining SRA and FSA approvals, Silverbeck Rymer will become Quindell Legal Services, but will continue to trade as Silverbeck Rymer.

The combined entity will form “a joint outsourcing offering to the UK insurance claim market, in particular the area of personal injury”, the firm said in January.

Rapid expansion plans have been put in place for the firm’s Liverpool headquarters with around 250 of the new roles made up of case handlers, paralegals and qualified solicitors, while the remainder will be support positions.

HR and people development director Jill Harrison commented: “We’re driving the business forward through growth and creating job opportunities at every level.”

Silverbeck Rymer is one of a handful of firms to have completed deals with private equity houses following the implementation of the act.

Manchester-headquartered Keoghs opened talks with Bowmark Capital in February (28 February 2012), before turning instead to private equity house LDC for a cash injection, gaining ABS licence approval earlier this month (2 November 2012).

Earlier this week it emerged that personal injury firm Keoghs is to take a team of 17 from Clyde & Co’s Manchester base, including Manchester fraud head Damian Ward (19 November 2012).

In May, Co-op Legal Services unveiled plans to recruit 3,000 lawyers as part of its assault on the legal profession (24 May 2012). CLS is the largest company to be granted an ABS licence by the SRA.