Get free updates - subscribe to our monthly newsletter Subscribe
Armstrong Watson’s specialist legal sector team are celebrating with their client after the successful completion of the acquisition of Pryers LLP, a firm of solicitors based in York, by Pure Legal Limited.
The Armstrong Watson team acted as advisers to Pryers LLP throughout the deal, ensuring due diligence requirements were met, providing commercial and tax advice and supporting the firm throughout the process.
The deal was concluded for consideration of £13m, with an initial cash payment, and the balance paid out over a period of time, with the current management team remaining in place for a minimum period of three years.
Pryers LLP Managing Partner, Ian Pryer, said, “Having faced a number of approaches from law firms and companies over the years to acquire Pryers, it was important for us to wait patiently for the right opportunity with the right company to forge ahead with. Pure Legal undoubtedly presents that opportunity and I am delighted to get this deal over the line and I look forward to working with Phil and his team.”
“Thanks to our Accountant, Andy Poole and his team from Armstrong Watson, for their diligent work. We were genuinely impressed with their advice and representation. Thanks also to our lawyer, Nicholas Fielden from FMGS”.
PURE Legal Limited CEO, Phil Hodgkinson, said, “This is our first major acquisition and forms an integral part of our future strategy. Clinical Negligence and Product Liability are both areas of work in which we wish to expand, and Pryers LLP are considered one of the top firms in the UK who specialise in these areas of work”
“It is important when creating an ABS that you learn from mistakes made by others. Our strategy is to acquire and collaborate with firms who have the necessary skill sets and experience in areas of legal work we wish to expand into and to couple that with organic growth as we deliver our initial five year plan”
“Pryers LLP is an extremely well run and well respected business, with an outstanding management team and staff. We are excited to have been able to both acquire and now work with such a well-respected and efficient business and we will now put in place our growth plans with immediate effect”
O’Connors LLP, Wilson Henry and Zebra LC were the advisers to Pure Legal.
If you like this article and would like our FREE updates sent straight to your inbox then subscribe to our monthly newsletterSubscribe
All content © 2015 Armstrong Watson. All Rights Reserved. Website by Simon Pighills.
Armstrong Watson LLP is a limited liability partnership registered in England and Wales, number OC415608. The registered office is 15 Victoria Place, Carlisle, CA1 1EW where a list of members is kept. Armstrong Watson LLP is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. Unless otherwise indicated, either expressly or by the context, we use the word “partner” to describe a member of Armstrong Watson LLP or an employee of Armstrong Watson LLP in their capacity as such.
Armstrong Watson Audit Limited is registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales. Registered as a limited company in England and Wales, number 8800970. The registered office is 15 Victoria Place, Carlisle, CA1 1EW.
Armstrong Watson Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. Firm reference number 542122. Registered as a limited company in England and Wales, number 7208672. The registered office is 15 Victoria Place, Carlisle, CA1 1EW. Armstrong Watson Financial Planning & Wealth Management is a trading style of Armstrong Watson Financial Planning Limited.
Armstrong Watson Trustees Limited is a limited company registered in England and Wales, number 84495656. The registered office is 15 Victoria Place, Carlisle, CA1 1EW.