Russell Jones & Walker (RJW) is due to undergo its most transformative year in 2012–13 after the firm announced in January 2012 that it would be acquired in April by Australian-listed Slater & Gordon.
The deal valued RJW at A$80m (£51.73m). This included a cash payment of £27.7m in addition to a deferred cash payment of £6m in 2013 and £2.8m in 2014.
On top of that, shares will be issued to RJW-approved partners valued at £17.3m.
The legacy RJW firm, now known as Slater & Gordon, will no longer be able to keep its financials under wraps, a trend that has resulted in The Lawyer consistently estimating the firm’s results. RJW had always been elusive about its figures, a policy that is to some extent born out of its trade union client base, which includes the Police Federation.
For 2011–12 year-end, The Lawyer estimates turnover at £45m, up from £42.5m in 2010–11. The challenge for the UK firm is to maintain this upward trend if it is to achieve Slater & Gordon’s stated aim of generating a £53m