Partner Article

Leeds’ Simpson Millar acquired for £9 million

Simpson Millar, the Leeds-based legal services firm, is to be acquired by the Fairpoint Group, a financial solutions provider for an initial consideration of £9 million.

Further earn-out consideration of up to £6 million payable in cash and shares.

Simpson Millar provides consumer-focused legal services with its main lines including: family, personal injury, and clinical negligence. It is headquartered in Leeds and has over 250 employees based in 13 offices around the UK, having been founded over 150 years ago.

In the financial year ended 30 June 2013 Simpson Millar generated consolidated revenues of £16.9 million.

Chris Moat, CEO, Fairpoint Group, said:“The proposed acquisition of Simpson Millar presents us with an opportunity to accelerate the diversification of our income streams into the legal services market place, in line with our stated strategy.

“Simpson Millar has already made significant progress in developing a powerful consumer offering, through the combination of strong legal skills with the innovative application of technology and legal processes.

“Overall, the acquisition is expected to accelerate the growth of the Group and deliver enhanced earnings.”

Peter Watson, managing partner of Simpson Millar said:“We see this as a really innovative move in the market, which will allow us to reach more customers, continue to improve our value proposition for customers and to leverage each other’s capabilities in areas such as strategy, marketing, the efficient delivery of professional services at scale and business acumen.

“Together, we are considerably stronger and better placed to help more consumers with their legal requirements, offering both excellent customer service and great value for money.”

This was posted in Bdaily's Members' News section by Clare Burnett .