London AIM listed law firm Gordon Dadds Group has acquired another law firm, the second this year. Bristol law firm Metcalfes has been purchased for £2 million, payable in cash over a five year period. Metcalfes is a general practice with clinical negligence, property, non-volume personal injury and private client work from a generally high net worth individual and corporate base. It recently acquired the goodwill and certain assets of another SME law firm Burroughs Day from the administrators of Burroughs Day. Burroughs Day had offices very close to those of Metcalfes and with a similar business mix. Last year Metcalfes had fee income of £2.69 million and achieved a profit before members’ profit shares of £0.67 million.
Strong acquisition pipeline
Commenting on the acquisition Adrian Biles, chief executive officer of Gordon Dadds, said: 'Metcalfes is a profitable and very well regarded firm of solicitors in Bristol with whom we have worked to integrate the Burroughs Day business. We are confident that the enlarged business can be developed into a significant as well as a respected and highly profitable business under the leadership of Anthony Heath and his team. Bristol complements Gordon Dadds’ other locations and is a fertile area for developing a high quality offering to corporate and private clients.' He added: 'This deal closely follows the Group’s recent acquisition of White & Black Limited, a growing specialist technology solicitors firm. We continue to have a strong acquisition pipeline which we expect will enhance earnings and the reach of the Group even further.'
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