Slater & Gordon seals £33m acquisition of Pannone consumer business

Market reforms introduced via the Legal Services Act and litigation cost controls implemented in April are forcing consolidation of the sector at a faster rate than ever before.

Slater & Gordon, the first publicly-listed firm in Australia, today told the Australian Securities Exchange it would acquire Pannone’s consumer business for £33m. That will give Irwin Mitchell something to think about in Manchester, where the firm has just lost a team of 30, including six partners, to TLT.

It isn’t the only firm losing chunky teams to rival outfits. DAC Beachcroft and Berrymans Lace Mawer picked up Morgan Cole’s volume claims and catastrophic insurance teams just a few weeks ago. The move now looks like a precursor to Morgan Cole’s discussions about a merger with Blake Lapthorn and Boyes Turner.

The tectonic plates of the legal consumer sector are shifting; how long will it be before we see the fault lines?

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