BARELY A WEEK since it announced its acquisition of Sydney firm Blessington Judd, Slater & Gordon has executed an agreement to purchase Secombs Solicitors in Melbourne’s western suburbs.
Based in Footscray, Secombs Solicitors is a full-service firm comprising around 30 staff. Consideration for the acquisition, which is subject to the completion of due diligence, will be a combination of cash plus $1.05 million in Slater & Gordon shares. Part of the cash component will be deferred to the end of the 2009 and 2010 financial years, subject to the delivery of agreed performance criteria during those years.
According to Slater & Gordon’s managing director Andrew Grech, the acquisition will boost the firm’s existing capacity in some areas, such as personal injuries, wills and estates, commercial litigation and family law. It will also broaden the firm’s practice into the areas of business advisory, commercial transactions and planning law.
“The acquisition ticks a lot of boxes for us,” Grech said.
In conjunction with this latest acquisition, the rapidly expanding firm will also be opening a new office in Sunshine, in an effort to better service people in the rapidly growing suburbs further west. Following completion of the Secombs deal, the firm will close its Footscray office, with the majority of staff transferring to the new Sunshine and Secombs offices.