Top-200 Midlands firm acquired in pre-pack deal

Midlands firm Wright Hassall has been acquired by a rival as part of a pre-pack administration process. National firm HCR Law has announced that the full-service practices will combine to form a business with more than 1,000 staff and annual turnover of £112m.

The debt collection firm QDR Solicitors, which previously formed part of Wright Hassall, has not transferred ownership to HCR Law.

Sam Payne, joint head of HCR’s Leamington Spa office, said: ‘We’re delighted to be joined by Wright Hassall. This is about building on shared strengths and creating new opportunities for our clients and staff. For now, it’s "business as usual" for clients, who we look forward to supporting further.’

No details have been published about the reasons for Wright Hassall’s administration or whether any back-office redundancies will be made. The firm has confirmed that all current staff within the legal business have been given the option to join HCR.

The combined firm will operate from 12 locations, including the Leamington office previously home to Wright Hassall. That office will be known as HCR Wright Hassall and will be led by Payne and Heath Thomas.

Wright Hassall can trace its roots back to 1846 and is arguably one of the best-known practices in the country thanks to its name, which the firm itself acknowledges has given rise to ‘gentle ribbing’ over the years.

It won national awards during the 2010s and continued until very recently to play an active role in its local community, last year marking 20 years of headline sponsorship of the 10k Wright Hassall Regency Run in Leamington.

The LLP’s most recently published accounts, for the year to 31 March 2024, showed few signs of a business in financial trouble. Turnover increased by just 3% to £17.7m but profit before tax and members’ remuneration jumped by 38% to £2m. The 17 LLP members shared £1.48m profits compared to 2023 when they shared £1m.

But cash reserves had dwindled from more than £700,000 to £57,000 and headcount had reduced from 218 to 181.

Over the longer term, the business had also showed signs of decline: turnover had reached more than £25m in 2019/20 and profits had soared past £3m the year before.