Slater & Gordon acquires majority of Pannone’s business in high-profile deal
updated on 02 December 2013
The majority of Manchester-based firm Pannone's business has been acquired by Australian firm Slater & Gordon for a total of £33 million, it has been announced.
Pannone confirmed that among the areas of its business to be transferred will be its real estate, personal injury, clinical negligence, court of protection, family, private client and trust and probate, regulatory and construction practices, as well as teams from the employment and dispute resolution groups. As reported by the Law Society Gazette, the deal is expected to be completed in February 2014.
A new and independent business called Pannone Corporate will also be formed out of Pannone's commercial, corporate finance and debt recovery teams, plus parts of the firm's dispute resolution and employment practices.
Andrew Grech, managing director of Slater & Gordon, said: "Pannone Solicitors gives us the scale we believe is necessary to operate in the UK market. Post-completion, Slater & Gordon will hold the number one or two market-share position in most consumer law practice areas. Our brand strength in the [United Kingdom] will continue to grow, benefiting from increasing marketing and business development capacity and the strong regional brand delivered by the acquisition."
