Wed, 21 Aug 2019 | ADMINISTRATION
Somerset-based law firm, Broomhead & Saul LLP, has been saved from insolvency in a pre-pack administration deal that will see the 124-year-old business come under the ownership of Solicitors Title LLP.
Solicitors Title LLP is a business law firm with offices in Exeter, Yeovil and Totnes. All operations and assets will transfer across to the new owner.
Founded in 1895, Broomhead & Saul LLP has offices in Taunton and Ilminster and provides a full range of legal advisory services, including: Children and Family law, Residential Property, Wills, Powers of Attorneys and Probate law with a staff of 34.
Partners Sean Bucknall and Andrew Hosking of Quantuma were appointed joint administrators to the business on 31 July 2019 and immediately completed a pre-pack sale to enable the business to continue operating.
Building on the firm’s credentials in the legal sector, the deal follows Quantuma facilitating the transfer of Blue Co London UK LLP’s (formerly Ince & Co) regulated business to Gordon Dadds LLP, creating a top 30 legal practice; overseeing the transfer of Cubism Limited to a number of acquiring firms; and advising on the sale of Roberts Jackson Limited to AWH Legal Limited.
Sean Bucknall commented: “Broomhead & Saul LLP is a well-regarded firm in the region, with a historic legacy. The business found itself in difficulties after a number of partners retired in quick succession and has faced challenges with the integration of a new operational system.
“We are delighted to have found a buyer for the firm – rescuing a longstanding local business and saving 34 jobs.”
Alan Bennett of Ashfords LLP advised the Joint Administrators in respect of the transaction. Alan commented: “We are pleased to have advised on this transaction which has resulted in the preservation of a number of jobs. It illustrates the financial difficulties many law firms are currently facing.”
Provides a variety of assessments and support packages to parents; these include formal observations, self management work, life skill lessons and access to external specialist services. Services a variety of local councils and boasts a client base c...
FREEHOLD
Provides a range of consultancy, coaching and training services to facilitate clients’ ongoing business development and growth. Provides its services online and in-person, and offers unique solutions such as training video creation.
RELOCATABLE
Highly specialist personal injury & clinical negligence law practise, acting exclusively on behalf of individuals, to provide expert legal advice in litigation cases. The company has sustained profitability since inception with exceptional business c...
LEASEHOLD
|
27
|
|
Sep
|
Yorkshire countryside hotel on the market after entering administration | COMMERCIAL PROPERTY
A Yorkshire country house hotel has been put up for sale aft...
|
26
|
|
Sep
|
£1m-turnover Derry garden centre on the market for £1.25m | BUSINESS SALE
A £1 million-turnover garden centre in Derry has been ...
|
23
|
|
Sep
|
E-commerce software firm acquired at 11.5x EBITDA | BUSINESS SALE
Grafenia Plc, a listed business that operates a buy-and-buil...
Sign up to receive our acquisition alert emails to get your FREE guide
|
17
|
|
Aug
|
£23.7m turnover trailer manufacturer seeks buyer after entering administration | ADMINISTRATION
Lincolnshire trailer manufacturer Fruehauf Ltd has entered a...
|
15
|
|
Jul
|
Administrators seek buyer for 45-apartment Glasgow development after property firm collapses | COMMERCIAL PROPERTY
Administrators are seeking a buyer for a residential develop...
|
27
|
|
May
|
Ralph & Russo’s future in doubt after deal collapses | ADMINISTRATION
The future of luxury fashion brand Ralph & Russo is in doubt...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources