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Fairpoint Group buys Simpson Millar

ABS will create a 'diversified financial and legal services business' 

9 April 2014

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By Manju Manglani, Editor (@ManjuManglani)

UK law firm Simpson Millar is to be acquired by AIM-quoted financial services business Fairpoint Group.

Under the deal, which will take place through an alternative business structure, Simpson Millar will use its existing trading brands and operate as a business unit within the group.

The 13-office UK legal practice will continue to be run by its current management team.

"This is an investment in growth and a commitment to help us realise our existing long-term strategy," said Simpson Millar's managing partner, Peter Watson.

"Meanwhile the firm can approach discussions with potential new partners armed with the added incentive that Simpson Millar is now part of a diversified financial and legal services business."

Recent acquisitions by Simpson Millar include education specialist MG Law and family practice McAras. It has also acquired the care homes division of Barnetts Solicitors in Southport and a substantial volume of work from Lindsays Solicitors in Liverpool.

Chris Moat, CEO at Fairpoint Group, said that it had "spent a considerable amount of time finding the right partner" after alternative business structures become possible.

The transaction is subject to market and regulatory approval.

 

 

 

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