Greater Manchester-headquartered financial advisory firm Frenkel Topping has acquired a legal costs consultancy, which has bases in Derbyshire and Newcastle upon Tyne, for almost £1.5m.
The Salford-headquartered firm has made the move for Bidwell Henderson Costs Consultants after raising £13m to fund its mergers and acquisitions strategy earlier this year.
Bidwell Henderson covers specific areas of law such as complex public and private family, housing, judicial review, Court of Protection, abuse and clinical negligence cases.
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The firm was first established in 2014, currently employs or retains 55 individuals across two offices.
For the year ended March 31, 2021, Bidwell Henderson generated revenues of £1.56m and reported a £400,000 profit before tax.
The company is being sold to the AIM-listed Frenkel Topping by Mark Bidwell, Rebecca Bidwell and Ann Delaney who are to remain within the group.
Richard Fraser, chief executive of Frenkel Topping, said: “I am delighted to welcome Bidwell Henderson to the group.
“Over the past seven years Mark, Ann and Rebecca have built a leading legal costs consultancy and were well known to the group prior to discussions around the acquisition.
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“This acquisition is in line with our strategy of maximising touch points in the PI and Clin Neg space with the added benefit of being able to sell Frenkel Topping services into existing Bidwell Henderson clients and look to further the AUM growth of the group.”
Rebecca Bidwell, director of Bidwell Henderson, added: “We could not be more delighted to become part of the Frenkel Topping Group.
“Bidwell Henderson is a growing business providing an array of legal services to lawyers. We have strategic and ambitious plans for the future.
“Becoming part of the Frenkel Topping Group will help us achieve those goals quicker and provide additional opportunities for our team.
“With the help of our bespoke and comprehensive in-house training programme and our exceptional team members, we are looking forward to bringing new opportunities to the market and being able to support more lawyers.”
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