BPL announces “business as usual” following Metamorph buyout
Last week, consolidator Metamorph Law made a further acquisition with the buyout of conveyancing firm, BPL Solicitors. Formed in 2005 by solicitors David Bridge and Mark Stimson, BPL, which has offices across the south-west, has around 100 staff and specialises in panel-focused residential conveyancing and remortgage work. It also provides bespoke, high-end residential conveyancing, construction litigation and commercial property services.
Commenting on the development at the time of the announcement, David Bridge, who takes on the role of National Head of Metamorph Law’s Conveyancing Division, said that the opportunity gave BPL “an excellent platform on which to continue to grow and develop its brand”.
A week on from the deal, speaking to Today’s Conveyancer, Mr Bridge said that he was enjoying his new role and that he is focusing his efforts on getting to know all the staff within the conveyancing and other departments.
Commenting on how BPL was finding being part of Metamorph Law he added: “As always the business of conveyancing goes on. There are still clients to serve and exchanges to be done, so nothing has changed in that respect. There is a lot to learn about Metamorph Law, and that will take time but we have been made to feel very welcome, and I am looking forward to getting to know all the staff across the group and working with them to take the overall business forward.”
Remarking on what this means for staff at the firm, he added: “For the moment the structure has not changed other than welcoming Simon Goldhill and Chris Cann onto the BPL board. However, moving forward, there are many areas where we can improve our offerings and services to clients and integrate our efficiencies as a group, and that is a very exciting part of the future and one that we are all looking forward to. We will continue to grow in capacity, and this, we hope, will lead to new jobs being created.
“After the inevitable settling in process, the plans are onwards and upwards. Joining the group gives us a much wider geographical presence which we plan to take full advantage of. The Metamorph group will continue to grow in accordance with its stated aims as a legal consolidator, and that too is a very exciting aspect of this deal – to be part of a dynamic business with a clear vision for the future of, not only the group, but the broader legal marketplace.
“We already have an excellent pipeline and relationships with some of the country’s leading panels, agents and mortgage brokers and we very much hope to build on this platform.”
BPL is a member of Equishield – a collaboration of recognised regional law firms which have joined forces to offer specialist and impartial equity release legal advice. Commenting on how the latest development will impact the Equishield partnership, Mr Bridge said that he would hope that the increased coverage and expertise could only add to the alliance.
Metamorph Law received an ABS licence in April 2016 and was created to acquire, transform and aggregate existing high street firms focused on private client and SME work. It first came to prominence in 2016 with the acquisition of north-west firm, Linder Myers and has since acquired Shropshire-based SLC Solicitors.
While, in the past, Metamorph Law has made distressed purchases, the BPL deal does not fall into that category. The deal is said to have been in the pipeline for some months.
Metamorph founder and director of strategy Simon Goldhill said that the BPL acquisition was unlikely to be its last of 2017.