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Thorneycroft Solicitors gains ABS license

'Continuous innovation is a big driver for me' says Rachel Stow

6 July 2015

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UK law firm Thorneycroft Solicitors has been granted an alternative business structure (ABS) licence by the Solicitors Regulation Authority as part of a major restructuring of its operations.

The business plans to launch a non-legal services offering later this year that harnesses the range of expertise available within its newly-formed parent, TS Group (TSG).

"Continuous innovation is a big driver for me," said managing director Rachel Stow.

"Our strategy to form strong strategic partnerships and acquire other complementary businesses has enabled us to continually innovate and grow."

TSG is made up of six businesses, including insurance claims management business Bankstone, in which TSG now has a majority stake.

In addition to Thorneycroft Solicitors, the group wholly owns: full-service accident management company, Claimcare; car hire business United Assistance; and specialist PI brands Claimant Law and Cycle Assist.

The group has unveiled new branding which Stow said is a nod to its Macclesfield roots.

"Even though we're a national business, our ethos remains deeply rooted in Macclesfield. We've sought to demonstrate this with the group mulberry tree logo, representing not only the solid foundations that our business is built on but also recognising Macclesfield's heritage as one of the world's biggest silk producers."

The business is owned by Stow, who has led the firm's growth and diversification, along with a further seven group directors.

The ABS license was secured with advice from the specialist Compli team at Weightmans.

 

 

 

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Business development & Strategy