Law firm DWF, which has an office in Leeds, is to acquire independent Spanish law firm Rousaud Costas Duran (RCD) for up to £42.5m in shares and cash.
The strategic acquisition will expand DWF’s international capabilities THROUGH offices in Madrid, Barcelona and Valencia and provide access to an extensive network of connections in the Iberian Peninsula and Latin America.
RCD, which will bring 40 new partners and around 400 people in total, operates in the same sectors as DWF with a focus on similar capabilities.
Andrew Leaitherland, group CEO at DWF, said: “I am delighted to welcome our RCD colleagues to DWF in another important step for the business.
“The transaction complements the Group’s existing international offering and boosts our expertise and ability to support clients in Spain, and provide access to an extensive network of connections across the Iberian Peninsula as well as Latin America.
“The Acquisition is consistent with DWF’s strategy of acquiring complementary businesses with high levels of recurring revenue and strong cash generation.
“RCD will sit within the International division which remains one of the priority growth opportunities and therefore priority areas for the Group’s capital allocation.
“RCD has a range of potential synergies with DWF, with significant capabilities and sector overlap in our three global areas of insurance, financial services and real estate.
“As leading legal innovators, our businesses have a strong focus on doing things differently, and this is the next logical step towards providing Complex, Managed and Connected Services globally.
“The transaction also builds on our recent acquisition in Poland, displaying our international expansion ambitions and continued delivery on our IPO priorities.”