Fletchers Solicitors was recently taken over by a private equity house, Sun European Partners, who have plans to transform the law firm into a major consumer practice. Fletchers Solicitors currently employs 500 members of staff and specialises in handling serious injury, medical negligence and road traffic accident matters. They have also recently expanded beyond personal injury claims into data breach and diesel emission claims.
Consolidation of the legal market
Following the sale of the firm, Rob Fletcher, the founder of Fletchers Solicitors discussed the fact that consolidation of the market is accelerating rapidly with larger firms taking a greater share of the market. He explained that the main reason he agreed to the sale to Sun was because they had expressed plans to expand the firm rather than break it up.
He highlighted the fact that there has been a huge uplift in activity within the legal market with a lot of mergers and acquisitions taking place stating:-
“There are a lot of acquisitions going on in our industry at the moment as people realise that the future is firms that have the size to compete.”
Fletcher further stated that, although the firm is one of the largest clinical negligence firms, their share of the market is still in single digits.
Sun capital has also confirmed that they plan on investing in technology “to make sure we are processing cases as efficiently as possible.” The company now plans to expand both organically and through acquisition.
The future of the legal market
It is clear that the legal market is set to become very interesting. R&R Solutions have witnessed a huge increase in the number of firms being proactive and strategically managing their own exit from specific areas. Many firms have reflected over the past 12 months and sought advice from their professional advisers, given that exiting a market is something they are likely to only do once, and come up with a very clear plan. The result of positive early action being some great outcomes.
How can R&R Solutions assist?
If you are considering your options following the recent changes in the legal market, feel free to get in touch with R&R Solutions to discuss the best plan going forward.
The unique scheme offered by R&R Solutions is suitable for law firms and professional advisors, including accountants, merger and acquisition consultants, restructuring and insolvency lawyers, insolvency practitioners and corporate recovery specialists. Our services are suitable for all types of legal work, using a simple, ongoing process with no up-front costs.
We offer a positive solution to any law firm by helping them exit any legal market whilst remaining solvent, maintaining cash flow, and ensuring they get the most out of their files.
We will provide you with all the advice and support you need, and we guarantee 100% confidentiality for all clients. If you would like to find out more about our process, feel free to get in touch today via email (firstname.lastname@example.org), telephone (0845 056 1258) or contact Sally Dunscombe at email@example.com or 07774 205 870.
Retirement Project - Grant Saw Solicitors LLP
“With our claimant personal injury partner retiring in we decided the time was right to step back from PI work. We reviewed the market options, were disappointed at the discounts being applied by potential buyers of the WIP and were referred to R&R’s offering the full realisation of WIP over time. It has effectively delivered what it “said on the tin” - over the project period we have seen a steady flow of receipts being accounted for to us, allowing us to recover the full value we had built up in the files."
- Mike Clary, Partner
Restructuring Project - Copley Clark
“Having taken a strategic decision to be completely step out of the claimant personal injury sector we were R&R’s first client to step back on a phased basis. R&R customised their offering specifically for us and I am happy to say it has worked a treat. We could focus our own resource on matters where we had a possibility of concluding within our timetable and utilised R&R’s panel firms to continue to work on other matters. Not only have their services allowed us to retain the value we had built in the files, the nature of the services ensured we were able to offer our clients the option of moving to firms with the skill sets required to best service their specific needs. For firms considering restructuring we would have no hesitation recommending R&R Solutions."
- Malcolm Lawrence, Partner
Restructuring Project - Farley Dwek Solicitors
" We had an extremely positive experience working with R&R Solutions after making the strategic decision to move away from an area of law and retune our business model. The process was very straightforward, and we were really pleased with the overall outcome. We would highly recommend the Recovery First model as a practical solution to any law firm wishing to exit a specific sector.”
Jonathan Dwek, Director
Ticking all the boxes for a quick, clean, confident exit from legal markets due to restructuring or retirement.
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07774 205 870
07887 796 989
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