Top 100 firm Russell Jones & Walker licensed as ABS
Industry News : 27 April 2012
It was announced today by the The Solicitors Regulation Authority (SRA) that the Australian takeover of the 1920s established firm Russell Jones & Walker has been cleared by licensing it as an alternative business structure (ABS)
The Slater and Gordon acquired firm, RJW is the fifth ABS firm to be authorised by the SRA. RJW will also be the first foreign-owned ABS, in addition to being the first to be part of a stock exchange listed company.
'The SRA is delighted to announce the licensing of Slater and Gordon as the latest ABS. This new licensed body combines a wealth of legal services in RJW with the experience of the Australian law firm Slater & Gordon,' the regulator stated.
The acquisition of RJW and its Claims Direct claims management brand was announced in January by Melbourne-based Slater & Gordon ,in a deal worth £53.8m. The takeover was predicated on RJW achieving ABS status. Andrew Grech, managing director of Slater & Gordon stated, ‘This is the optimum time to enter the UK market because of the changes in ownership laws and impending changes to the personal injury sector.’
RJW was initially established to gain compensation for injured steelworkers and now has around 425 staff across 10 locations with the main offices being London, Manchester, Sheffield and Birmingham. About 60% of its revenue is in personal injury litigation although RJW also has employment law and a family law practice.