In recent history UK based legal firms have been extremely dominant in Europe. Following Brexit and the likely event of the UK leaving with no deal, Europe’s reliance on UK legal may start to deteriorate.
In fact, a German based legal firm has just bought a UK based Legal firm. Although we have seen many American based firms look to enter the UK legal market, it is less common for our European counterparts.
ETL Group, a company of professional services firms based in Germany, head a consortium that includes two former partners at Manchester firm Kuits, that have bought Glaisyers, a full service firm that focuses on small to medium sized enterprizes.
The ETL group are globally known, employing over 7,000 people across 50 countries. They have said that their ‘substantial investment’ in IT and recruitment will help to improve Glaisyers’ annual revenue of £4.3 million.
Following the take over, the consortium will look to expand Glaisyers by opening a second office in Mayfair, London, with aspirations of further increasing their reach and service offerings to SMEs in the south of England.
Nick Johnson, former employee of Glaisyers who will remain as Managing Partner, said: “The cash injection, expertise and energy and passion that the investors bring to the table will allow us to take the firm to the next level and continue to build a unique practice model. The long-term objective is to be a one stop resource for small to medium size enterprises.”
David Jones, one of the investors, said: “We will provide a stand out model that will shake up the legal scene. ETL gives us direct access to global professional services firms that will lead to significant work volume both to and from Glaisyers, designed for the benefit of our clients.”
Whilst the impact of Brexit remains to be seen, it is positive that continued growth and collaboration within the legal sector flourishes.
What will this move mean for Glaisyers? Will this shake up the conveyancing sector?
