Law firm Russell Jones & Walker, which has an office in Bristol, was been acquired by Australian firm Slater & Gordon for £54m.
The deal enables Slater & Gordon, which was the world’s first legal practice to have share listed, to enter the UK market. The deal is subject to receiving an alternative business structure licence from the UK Solicitors Regulation Authority.
Russell Jones & Walker has around 425 staff across its 10 offices, including Bristol where it provides personal injury, criminal and
misconduct and family and personal matters from its Prince Street base. The firm also owns the Claims Direct no-win, no-fee brand.
About 60% of the firm’s revenue is in personal injury litigation. It also has a strong employment law practice and a growing practice in family law. The firm will now be rebranded as Slater & Gordon.
Slater & Gordon managing director Andrew Grech said: “The UK market is inherently attractive to us because of its size and its jurisdictional similarities to Australia which the recent changes bring even closer into line.
“We have the huge advantage of having a five-year head start in operating in a listed environment and we can bring that experience to the UK through a kindred firm in RJW which has the business structure and the people to exploit that advantage.”
Russell Jones & Walker chief executive Neil Kinsella said: “Slater & Gordon is the ideal partner for us. We share similar histories and business ethos and we have spent the past 12 months, while negotiations have been underway, collaboratively developing a strategy to make the most of the changes taking place in the UK from a legal regulatory and legal services market perspective.”
The Financial Services Act 2012 paves the way for UK law firms to become listed companies.
