Chadwick Lawrence has become the latest outfit to sell off its personal injury (PI) book, with the firm offloading the business to Slater & Gordon.
The regional firm, which has offices in Huddersfield, Wakefield, Leeds and Halifax, said that sale of its PI and clinical negligence business would enable it to accelerate growth. The firm pointed to its conveyancing and employment practices as areas of particular focus.
Earlier today, Slater & Gordon confirmed it has agreed the £33m takeover of Pannone’s consumer law business. That includes PI and serious injury, clinical negligence, court of protection, family, wills, trusts and probate, property and some of the firm’s employment and dispute resolution practice areas (28 November 2013).
Chadwick Lawrence’s managing partner Jeremy Garside commented in a statement: “It’s widely reported that over 2,500 legal firms in the UK are estimated to be in difficulties, often due to their inability to adapt to the challenging reforms in the legal industry. However, this development gives Chadwick Lawrence a sound platform on which to build a sustainable, modern law firm.”
Chadwick Lawrence is not the first firm to sell of its personal injury business. Earlier this month, Morgan Cole transferred its Bristol-based volume claims and catastrophic injury insurance teams to DAC Beachcroft – a deal which included the move of five partners, 35 fee-earners and 24 support staff. The transfer is expected to complete on 24 January 2014.
In October, Greenwood’s 50-strong PI team moved to DWF due to demands from sole client Aviva in reaction to the firm’s merger with defendant insurance firm Plexus Law (11 October 2013).