LISTED Australian law firm Slater & Gordon has sealed its acquisition of a majority stake in Manchester’s Pannone, paying £33m to take control of the firm’s consumer law practice.
Slater & Gordon – which was the first ever law firm to go public when it listed on the Australian stock exchange in 2007 – has been steadily building up its presence in the UK through an acquisition spree that has seen it buy Fentons Solicitors, Goodmans, John Pickering & Partners and the personal injury practice of Taylor Vinters.
The deal, which is expected to be completed by late February 2014, is made up of £25.5m in cash and £7.5m in Slater & Gordon shares.
“This acquisition will transform us into a significantly larger firm offering a broader range of legal services and allowing us to help more clients in their fight for justice,” says Slater’s UK head, Neil Kinsella. “The planned acquisition of Pannone is a vital step in our strategy for growth”.
Slater & Gordon was advised by law firm Macfarlanes.