Gateley in second post-IPO acquisition


By Victoria Basham

20 September 2016 at 09:17 BST


The UK's first publicly listed law firm has continued its post-IPO expansion, acquiring Birmingham-based property consultancy Hamer Associates for £2.05 million.

Nicolae Feraru

It is the second deal that national midmarket firm Gateley has completed since it listed its shares on AIM, a submarket of the London Stock Exchange designed for smaller companies, in June last year. The first was the firm's acquisition of tax incentives advisory business Capitus Ltd for £2.72 million in April. At the time, Gateley management told law.com that the firm was targeting other complementary professional services businesses, particularly consultancies in areas such as HR and town planning, to work alongside its employment and real estate practices.

£1.2 million in revenue

Hamer, which will now operate as Gateley Hamer, specialises in advising property developers on the removal of utility infrastructure from development sites. It also acts for landowners and businesses on compulsory purchase issues relating to major infrastructure projects, such as the High Speed 2­ rail line linking Birmingham and London. According to a statement from Gateley, Hamer generated revenues of £1.2 million and operating profit of £292,000 in the fiscal year that ended 31 March.

Expansion

Gateley raised £30 million via its flotation last summer, valuing the firm at more than £100 million.  The firm has used the proceeds of the transaction to expand its business that included launching a new office in Reading last December. The firm also recently announced that its revenue increased 10 per cent, to £66 million, during its first year as a public company.

 
   
 
 
 

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