A north west firm has taken advantage of its new alternative business structure to bring six companies under one roof.
Thorneycroft Solicitors, based in Cheshire, will offer a range of services after securing an ABS licence with the Solicitors Regulation Authority.
The new parent company, TS Group, includes insurance claims management business Bankstone, in which it has a majority stake.
Accident management company Claimcare, car hire business United Assistance and specialist personal injury brands Claimant Law and Cycle Assist will also come under the same group.
The firm has previously been associated solely with personal injury law but managing director Rachel Stow (pictured) said the intention to grow private client and business departments to respond to recent reforms of the sector.
‘We’ve always had one eye on the future and so weren’t caught off guard by the seismic changes in the legal services market,’ she said. ‘Our strategy to form strong strategic partnerships and acquire other complementary businesses has enabled to continually innovate and grow.’
The firm’s personal injury operation has been restructured into teams covering new business, portal and non-portal claims, large loss claims and clinical negligence.
Stow said the group, which has around 200 employees, will also start a range of non-legal services later this year.
The firm is likely to reach a turnover of £15m this financial year, of which 10% is from new areas of law.
Meanwhile, the Irwin Mitchell group has completed its seventh acquisition since it was granted an ABS licence three years ago.
The acquisition, made through its subsidiary Ascent, is for Sheffield-based commercial debt recovery specialist P&A Receivables Services.
Group chief executive Andrew Tucker, said: ‘This is another important acquisition for the group and a sign of our continued ambition to expand across the UK.
‘This brings a solid portfolio of long-standing clients and we are confident it will be a valuable addition to our debt services business which again will further strengthen our position in this important market for us.’