Merged firms promise to retain high street presence
PUBLISHED June 28, 2013
Monday 01 July 2013 by John Hyde
Birmingham firm DBS Law - which last month advertised for potential acquisition targets - has announced the first fruits of its merger campaign.
The firm revealed today that it has merged with neighbouring firm Hearne & Co, saying it is determined to challenge current market trends by retaining a presence on the high street. Hearne & Co, which specialises in property services and wills and probate, will become DBS Hearne.
Rob Bhol, chief executive of DBS Law, said the move was designed to retain a local presence after market research found the public still wanted face-to-face contact with solicitors.
Bhol said: 'We've been convinced by extensive research that people are more comfortable accessing legal services from a real place rather than a virtual one. Even if they don't have time to come into the office very often, knowing it's there is reassuring.'
DBS Law, which turned over some £5.5m in 2012, last month said it would begin a six-month advertising campaign to attract firms from around the country.
Potential acquisitions will be firms posting around £2m annual turnover, with the deals financed by DBS Law's reserves rather than any private equity arrangement. DBS has confirmed there are a number of further acquisition talks already under way.