ince

More

Ince Group saved as law firm Axiom DWFM steps in with rescue deal

  • June 2, 2023
ince-group-saved-as-law-firm-axiom-dwfm-steps-in-with-rescue-deal/2-1-1443131″

Ince Group has been acquired out of administration by UK law group Axiom DWFM, which has agreed to buy the insolvent firm’s legal business and associated assets.

But this time around, Ince’s partners will drive the direction of the business.

Ince & Co, as the successor entity will be known, will continue to operate separately from Axiom DWFM and will be managed independently as a separately branded legal services business, Ince said on Friday.

It said the transaction will allow its partner group “to refocus the firm’s growth strategy on its core legal services, whilst also improving operations and support structures”.

Donald Brown, chief executive of Ince & Co, said the acquisition will give “a simple and clear corporate and capital structure under professional, knowledgeable and robust ownership”.

Article continues below the advert

“We are underpinned by a group of immensely talented lawyers with deep expertise in our key sectors,” he said.

“After taking over the management of the [publicly listed] group, it quickly became apparent that we needed to address a series of poorly structured and executed transactions and expansions.”

Managing partner Jennette Newman said Ince & Co is “committed to reinforcing the firm’s reputation of providing complex legal services to corporate, commercial and high-net-worth clients in our core sectors”.

Axiom DWFM is a full-service legal practice with a network of UK offices. Its managing partner, Pragnesh Modhwadia, who is a practising solicitor, said it has confidence in the Ince & Co business and its lawyers.

“When the opportunity came to acquire a business of the calibre of Ince & Co, we were eager to engage and are delighted that the Ince & Co team shared our enthusiasm,” he said.

“We believe we have a great relationship already and a great opportunity together.”

Ince said it

Read the rest
More

Listed law firm acquired in pre-pack deal

  • May 11, 2023

The Ince Group has been acquired out of administration by Axiom DWFM, saving almost 700 jobs.

The listed law firm collapsed into administration on April 12 after shares were suspended on January 3. It blamed the length of the auditing process placing an “increasing pressure” on its cash flow. After discussions with lenders, creditors and HMRC, Ince says a major creditor pulled its support, meaning it was placed into administration.

In a short statement on Friday afternoon, the firm said Quantuma Advisory had been appointed as administrator and implemented the pre-pack deal.

Axiom DWFM, which has offices in London, Birmingham, Bristol and Swindon, has bought the legal business and associated assets, but the new entity will be known as Ince & Co and will operate separately.

Donald Brown, chief executive of Ince & Co, said the acquisition will give “a simple and clear corporate and capital structure under professional, knowledgeable and robust ownership”.

“We are underpinned by a group of immensely talented lawyers with deep expertise in our key sectors.

“After taking over the management of the [publicly listed] group, it quickly became apparent that we needed to address a series of poorly structured and executed transactions and expansions.”

Click here to sign up to receive our new South West business news…
Read the rest