A YORKSHIRE-based law firm is on the brink of securing three acquisitions.
Neil Hudgell Solicitors has bought a number of clinical negligence case files from Hertfordshire firm HRJ Law.
The acquisition, for a six-figure sum, is the latest secured by Neil Hudgell Solicitors, which has offices in Hull, Leeds and Solihull, and specialises in claims for personal injury and clinical negligence, particularly brain injury and dental negligence cases.
In the past two years, the company has bought four other legal practices outright. It has also bought caseloads from seven other firms and there are three more deals in the pipeline, subject to contract.
Geraldine Kennedy, the managing director of HRJ Law, said the decision to sell the clinical negligence files had been prompted by changes in the way these claims will be funded in the future. HRJ Law is also focusing on other areas of its practice.
Ms Kennedy said: “This move enables us to develop our commercial and private client work while knowing that the cases transferred to Neil Hudgell Solicitors will be dealt with in a professional manner and clients will continue to receive a high quality service.”
Neil Hudgell Solicitors is interested in talking to firms wishing to sell individual files, caseloads or the entire practice.
Neil Hudgell, the firm’s managing director, said: “Huge changes in the legal landscape mean many lawyers are exiting personal injury and clinical negligence practice or leaving the profession for good.
“My own practice, on the other hand, is one of those actively looking to acquire firms or caseloads as part of our growth strategy.” In 2011, Neil Hudgell established the website www.webuyanyfiles.com and it has reported “significant interest” from general practices looking to inject capital into other areas of their practice, by cashing in on the value of their personal injury work.
Mr Hudgell said: “As well as this latest deal with HRW Law, we have various discussions with other practices ongoing. Two years ago, we had to go out of our way to stimulate interest.
“Now we are fielding 12 to 15 enquiries a week and I don’t expect to see that lessen any time soon.”
The firm’s estimated turnover is £8m for the year to March 2013, and it employs around 100 staff.