Slater & Gordon acquires Kenyons
Slater & Gordon Limited (SGH) said it has acquired Kenyons Lawyers for a combination of cash plus $800,000 in S&G shares. S&G said the Melbourne based firm generates over $5 million in fees per annum, half of which from its motor vehicle injury and workers compensation practices.
As part of the acquisition, S&G would also acquire a new area of work in Kenyons motor vehicle property damage practice.
The company said the agreement remain subject to the satisfactory completion of due diligence.
S&G managing director, Andrew Grech, said there would be some synergies resulting from combining both firm’s personal injury practices.
“The motor vehicle property damage practice will be an interesting addition to our portfolio of practice areas,” Mr Grech said.
“Our legal helpline already receives quite a few enquiries from potential clients in this area but up to now we’ve had to refer them to other law firms.”
S&G also announced that it plans to acquire Adams Leyland lawyers in regional New South Wales.
The company said the combination of the two acquisitions would add over $9 million in fees on an annual basis.
As at 1042 AEDT, Slater & Gordon shares were unchanged at $1.70.
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