The drive to create an alternative legal services market has spread to continental Europe with global firm Pinsent Masons striking a deal with two German entities.
The firm has announced the two acquisitions that will enable it to launch its flexible legal resourcing brand Vario into the German market.
Both companies acquired already work in the freelance market: Xenion was founded in 2012 and is a temporary legal resource for both corporate and law firm clients, while Xenia, a sister company, operates an associated managed legal service business.
Vario started in the UK in 2013 and has since expanded in Australia, Singapore and Hong Kong. The business, which saw revenues increase by 50% last year, aims to capitalise on clients wishing to access legal services through specially hired consultants rather than employ in-house lawyers or take on panels from different firms.
Matthew Kay, a former Accenture executive appointed as Vario managing director in 2016, said the deals are a landmark development in the growth and international expansion of the business.
‘This acquisition will help us to respond to increased demand for scalable flexible resource particularly in respect of secondments and class actions,’ said Kay. ‘This is something that Pinsent Masons’ German business is seeing a lot in the market, and where the ability to scale legal resources up and down to meet demand is an essential part of an effective response.’
The Vario business in Germany will be run out of Frankfurt with Matthew Kay taking overall management responsibility. The consideration of the acquisitions is undisclosed.