Manchester based law firm, Glaisyers Solicitors LLP, has today announced it has been acquired by a consortium of investors led by ETL Global, an international network of professional service firms, and two former Kuits partners.
The investment will help to accelerate the St James’s Square based firm’s expansion as a leading provider of legal and professional services to the SME market in the UK. Following the transaction, Nick Johnson remains in his role as Managing Partner at Glaisyers to help guide the business to the next level.
David Jones and David Marlor have invested alongside ETL Group and become Head of Litigation and Head of Property respectively, bringing their specific expertise and years of experience to the firm.
The new owners, ETL, David Jones and David Marlor, will provide substantial capital to support Glaisyers in its next stage of growth, particularly in relation to IT and recruitment, to consolidate its offering in the UK and to overseas clients. To support this growth, the firm will also be opening a second office in Mayfair, London.
Established over 40 years ago, Glaisyers is a full-service law firm specialising in the SME market. Current revenues are £4.3million and the firm has 70 employees. Glaisyers offers a broad range of specialisms, including: property, litigation, corporate, banking and employment, as well as an established conveyancing team.
ETL Group is an integrated global advisory network combining tax, legal, audit and accounting services. Its 7,000-strong team of professionals advises more than 200,000 clients in 50 countries.
On the development Nick Johnson said: “This is a really exciting move for Glaisyers. The investment will enable the firm to grow significantly with our new service offerings along with growing our staff which will put the firm in a strong position. I believe there are five pillars that contribute towards a successful law firm; IT, HR, Business Development and Marketing, Finance and Compliance. 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, head of litigation and one of the investors said: “To be part of something involving ETL is very exciting. Our expertise and vision combined with ETL’s international credentials will allow us to create 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.”
Jones expects the headcount to increase at the firm by over 25% in the next 12 months as it develops talent to deal with higher value complex work.
Sara Brassington, managing director at ETL, said: “Glaisyers is a respected player in the regional legal services market trusted by its clients for providing high quality advice and support. We are delighted to back such an excellent practice with strong brand values, culture and service levels and look forward to strengthening these while expanding its service capabilities in multiple disciplines across the region and beyond.”
Weightmans’ Liverpool office acted for the existing partners and Ryan Brown at Browne Jacobson’s Manchester office acted for the new investors.