Legal firm Gordan Dadds buys City practice Ince & Co for £27.3m
Legal firm Gordan Dadds has acquired City practice Ince & Co in a deal worth £27.3m.
The acquisition is the result of months of negotiations, and allows Gordan Dadds to start trading shares on London's Stock Exchange again. The listed company begins its new life today, with Ince’s offices in mainland Europe, Singapore and the Middle East being part of the merger.
However, the deal will not include Ince’s international network of firms (except those in China) after it was not possible to agree terms, a statement said.
These altered terms means that the total value of the deal came down from £43m, as previously estimated, to £27.3m.
However, the 24 equity partners of Ince UK will still join Ince Gordon Dadds.
Gordon Dadds said the deal is expected to be profitable for the firm, as duplicated costs are eliminated.
Adrian Biles, chief executive, described the acquisition as a ‘landmark in development’ as hundreds of new colleagues join the firm. ‘It increases our capacity hugely and we expect it to boost revenue significantly in the coming years,’ he added.