Simpson Millar has acquired Liverpool based law firm EAD Solicitors in the first step of a new £50m investment growth strategy. The firm aims to become one of the leading consumer law firms in the UK.
The deal enables Simpson Millar to extend its geographical footprint into the northwest, adding to its network of 8 offices across the UK whilst building on EAD’s strong reputation in Liverpool and its close relationship with a number of large Trade Unions. The acquisition follows a strategic review of Simpson Millar by the management team after Doorway, an independent and specialist provider of capital to law firms, became the firm’s new owner in January 2018. Under the ownership of Doorway, Simpson Millar has taken steps to reduce its cost base by over 20% and improve its internal operations. According to CEO Greg Cox, ‘the firm is now ideally placed to respond to market opportunities and create a significant force within the consumer legal services market.’
More deals ahead
The firm aims to build its brand and market share, develop technology through a £2.5m investment to improve its IT platform, and, to enhance client experience and options ranging from full service, assisted service and self-service, all offered at different prices. It has put in place an experienced senior management team with a blend of legal and other sector experience, closed a number of ‘non-core’ legal departments while re-structuring its internal legal teams into 3 client facing practice groups. The acquisition of EAD is one of a number of similar deals the firm is currently reviewing, including on-going discussions range from the purchase of existing books of business (WIP books) to the acquisition of other law firms.