Peter Maughan & Co acquired by Simpson Millar LLP
National law firm Simpson Millar LLP
has acquired North East firm Peter Maughan & Co
for an undisclosed sum and the firm’s managing partner, Peter Watson says they remain in the market for further acquisitions.
Peter Maughan himself will continue his ongoing work as a Partner with Simpson Millar and brings with him all members of staff.
“We welcome Peter Maughan into the Partnership,” added Peter Watson. “The deal will allow him to focus on what he does best – running complicated cases and raising the profile of the firm in the region. He is well respected by both his clients and his peers and is, with his long-standing reputation and network in the region, an asset in himself.
“Peter Maughan & Co has an extensive book of cases in a number of areas of practice which we will be able to run more efficiently and with an improved level of service. The firm’s Legal Services Commission Clinical Negligence Franchise is also a valuable asset in an area in which we continue to expand and invest nationally.
“For law firms to survive in today’s rapidly changing marketplace they need a solid and cost effective infrastructure. Therefore our first priority will be to implement a strong management support system.
News of this deal is expected to receive a warm welcome for the growing number of firms struggling under financial pressures as Peter explains:
"We have been looking to expand into the North East for a while so as to offer a better service to our existing clients in the region and fill a geographical gap in our national coverage. This deal is financially a solid investment and we are planning to expand further in the North East through both recruitment and acquisitions."
"Many small and medium sized legal practices are really beginning to struggle. They are simply not geared up to respond to growing financial pressures and ever increasing competition. Some however have good people and a healthy client base to build on, and those are the firms we are interested in opening negotiations with. Although they may be struggling on their own, I am confident that they would prosper with support from our infrastructure and management team."
"The legal market is rapidly becoming more competitive and in anticipation we have invested extensively in establishing a strong national support network to ensure all our regional offices are at the forefront in terms of technology and case management processes. This investment is now standing us in good stead and allows us to compete nationally on both cost and service."
Peter Maughan has been practicing law for over 30 years and regularly lectures in the region’s universities. He specialises in clinical negligence but has wide ranging experience in other areas.
"This is definitely the right deal for my firm and I am very excited about the prospects of developing our presence in the region under the Simpson Millar brand," Peter Maughan said.
"It was extremely important for me to make a deal with a reputable, honest and Lexcel accredited firm, but also one which is ambitious and forward thinking."
"The management team at Simpson Millar has been highly professional throughout the negotiation process and I am confident in what we can achieve."
Peter Watson concluded:
"This deal is part of an ongoing expansion strategy in terms of widening our geographical cover and growing our market share in existing regions and sectors. We will soon be announcing further acquisitions and senior level appointments as we look to develop the service we provide."