A thriving regional firm has said it is open to offers from bigger businesses who might be keen to expand. In an unusual step, Kent and London firm Thackray Williams said it would look at acquisition proposals from national firms looking to increase their exposure in the south east. It will also seek out merger opportunities to buy up smaller practices that may become available.
The call comes after the practice posted record-high revenue of £12.2m for 2023/24, with non-audited profits of £2.6m – elevating Thackray Williams into the UK’s top 200 ranks.
Revenue was up 9.1% on the previous year, with income at the private wealth department rising 24% and leasehold department up 15%. Overall the corporate and commercial division of the firm has increased revenue by 27% in three years.
Simon Slater, non-executive chair, said the aim is now to reach £15m annual revenue by 2027 but there are various options for how to manage this. ‘Whilst we are committed to our strategy of further organic growth, we will also consider alternative options, such as merger and acquisition, in order to increase our sector exposure, expand geographically and achieve our growth ambitions,’ said Slater.
‘The year ahead will again see us identify and recruit senior lateral hires to enhance our service to clients and move us forward in our chosen sectors and practice areas.’
Thackray Williams employs more than 130 staff and operates in six core sectors: private wealth, real estate, sport, financial & professional services, education and retail-hospitality & leisure. It has offices in the City of London, Bromley, Sevenoaks and West Wickham.
Slater was appointed as non-executive chair earlier this year to help spearhead the expansion of the business, having previously been with Charles Russell Speechlys, Eversheds and Cripps. He was also chief executive with Thomson Snell & Passmore.
On Slater’s appointment managing partner Sean Sanders said: ‘The legal sector continues to move rapidly and these additions mean Thackray Williams is well positioned to significantly grow within the evolving landscape and changing client needs.’
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