Gateley in £4m swoop on southern legal firm
BIRMINGHAM law firm Gateley has expanded with the £4 million acquisition of a practice in the South East.
The firm has bought Guildfordbased GCL Solicitors for £4.15 million. GCL Solicitors specialises in legal advice for land and property clients and works with some of the UK’s leading housebuilders as well as promoters and landowners.
It also acts for overseas private investors buying new-build residential properties in the UK, primarily in and around London. It will trade as Gateley from its existing base once the deal has completed.
This is the third and largest acquisition Gateley has made since the group’s admission to the AIM stock market in summer 2015.
It previously bought out financial consultancy Capitus and chartered surveyor Gateley Hamer, making GCL Solicitors the first legal business it has acquired.
The deal will add 79 new members of staff including group.
Michael Ward, chief executive of Gateley, said: “The acquisition will further strengthen our leading position in the residential development sector nationally and provide us with a substantial presence in the southern market which we see as critical in developing a full service offering for our clients. There is a structural under supply of new housing in the UK and we see this as a market that six partners to its will remain strong. The South East in particular will continue to be a significant engine for housing growth for the foreseeable future.”
Tony Inkin, managing partner of GCL Solicitors, added: “We are excited to be joining Gateley. We have a great opportunity with our combined areas of expertise to build an unrivalled offering for clients in the south of the UK and to strengthen further the private property investment part of our business.”