Axiom Ince, has acquired Leeds-headquartered Plexus Law out of administration for an undisclosed sum, saving hundreds of jobs.
In total, the deal safeguards 540 jobs without the need for any redundancies and adds to the 359 qualified lawyers and 442 other staff already under the Axiom Ince umbrella.
Axiom Ince is the result of acquisitions and mergers with Ince & Co, Wiseman Lee and DWFM Beckman.
Those transactions gave the business presences in London, Bristol, Cardiff, Glasgow, Birmingham and Swindon, as well as Dubai, Hong Kong, Cyprus, Greece and China.
With its acquisition of defendant insurance law firm Plexus, Axiom Ince has now arrived in Leeds.
Commenting on the acquisition, Pragnesh Modhwadia, global chief executive officer of Axiom Ince, said: “We are excited to have the Plexus family join our fast-growing legal services business.
“This acquisition cements our commitment to further growth whilst safeguarding jobs and looking after client interests in increasingly turbulent financial and legal markets.
“We look forward to welcoming our new Plexus colleagues and working closely with them. We would also like to thank the team at [administrator] Interpath Advisory for their stellar work in delivering this complex transaction as quickly as they have.”
Plexus reportedly ran into trouble after a major investor withdrew its support.
The Leeds-headquartered firm, which operates from six offices across England, as well as one in Edinburgh, sold a minority shareholding to private equity firm Origin Equity in 2019 for £15 million.
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