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Browne Jacobson advises consortium of investors on acquisition of Glaisyers Solicitors LLP

5 December 2018

Browne Jacobson has advised a consortium of investors led by ETL Global, an international network of professional service firms, and two former Kuits partners, on its acquisition of Manchester-based law firm, Glaisyers Solicitors LLP, for an undisclosed sum.

Established more than 40 years ago, Glaisyers is a full-service law firm specialising in the SME market. Current revenues are £4.3m 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.

David Jones and David Marlor have invested alongside German-based ETL Group, which bases its UK operation in Bolton, and have become head of litigation and head of property, respectively, bringing their specific expertise and years of experience to the firm.

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.

The investment will help to accelerate the firm’s expansion as a leading provider of legal and professional services to the SME market in the UK by providing substantial capital to support IT and recruitment. The firm will also be opening a second office in Mayfair, London, to support this growth and consolidate its offering in the UK and to overseas clients.

A Manchester-based deal team from Browne Jacobson led by Ryan Brown acted for the new investors.

Ryan Brown, corporate lawyer at Browne Jacobson, said: “With substantial investment in the region, Manchester continues to be the main hub of commercial activity in the North West, providing a raft of opportunities for the team at Glaisyers. It was a pleasure to advise on the investment into this long-standing Manchester business, and we are confident the firm will go from strength-to-strength under its new ownership.”

Nick Johnson, managing partner at Glaisyers, 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 more than 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.”

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