Newly published accounts from the UK’s biggest consolidator of firms have revealed the millions being spent snapping up regional practices. Lawfront Holdings this week filed its annual report for the year to 31 March 2025, covering a period of acquisitions.
The sums involved in these deals were not disclosed at the time, but the report gives detail about the millions being paid to private owners selling their stakes.
The biggest deal appears to have come after the reporting period, when Lawfront acquired south west firm Trethowans in May this year for an initial payment of £34.2m. This was funded through a combination of a loan and a share issue in the parent company, with associated costs of £1.1m. According to Companies House records, five directors of Trethowans left the business on completion of the sale.
In January 2025, Lawfront paid around £17.6m upfront to buy a full stake in south east firm Brachers. The deal could be worth another £9m depending on future considerations.
Earlier in the financial year, Lawfront had acquired Manchester firm Slater Heelis, with that deal now revealed to have been worth £12.2m in cash and around £6m in contingent payments. This acquisition contributed £16.9m in turnover and £2.1m in profit before tax during the year.
These were the deals for regional hubs, with other smaller acquisitions acting as bolt-ons acquired by those regional firms. Costs draftsmen firm Godfrey Wright Limited (£367,000), Burton-based Else Solicitors (1.3m) and Wigan firm ABH Solicitors (£3.3m) were all brought into the group during 2024/25.
Lawfront, which is owned by Cayman Islands-based private equity investor Blixt Fund, has also continued to make contingent payments to former owners of firms acquired since 2021. The final amount payable for north west firm Farleys Solicitors came to £2.1m, on top of the initial payment. A final amount of £1.18m in contingent payments was agreed with Essex firm Fisher Jones Greenwood during the year.
Lawfront said all the firms acquired during the year have continued to trade profitably and in the year the group’s net assets rose from £14m to £22m. By the year end, the group’s borrowings came to £56.4m, up from £24.5m in March 2024. This included extending an original £20m long-term loan to £33m and building up a £22m acquisition facility.
Turnover jumped from £47m to £74m, but the company went from making a £2m profit to reporting losses of £849,000. As of March 2025, the group headcount had reached 976, with that number having comfortably moved past 1,000 with the acquisition of Trethowans.
In his notes accompanying the annual report, director Nigel Osborne wrote: ‘The group continues to pursue its role as the preferred, national provider of legal services through the delivery of strategic targets as set each year. We endeavour to accelerate growth prospects through investment in colleagues, processes and further acquisitions, all supported by an expert central team.’
