Law firm deal may be first of many

Jan 20 2009 by Peter McCusker, The Journal

THE acquisition of a North East law firm by a national competitor is its first purchasing foray into the region, and there may be more to come.

The practice of well-known Gateshead solicitor Peter Maughan & Co for has been bought by national firm Simpson Millar for an undisclosed sum.

Peter Watson, managing partner at Simpson Millar, which has seven other offices in UK, said this may the first of a number of acquisitions in the region.

Mr Maughan himself will continue his ongoing work as a partner with Simpson Millar.

Mr Watson said: “We welcome Peter Maughan into the partnership.

“We have been looking to expand into the North East for a while so as to offer a better service to our existing clients in the region and fill a geographical gap in our national coverage.

“This deal is financially a solid investment and we are planning to expand further in the North East through both recruitment and acquisitions.

“Many small and medium-sized legal practices are really beginning to struggle. They are simply not geared up to respond to growing financial pressures and ever increasing competition.”

Mr Maughan has been practising law for over 30 years and regularly lectures in the region’s universities. He founded the firm in Gateshead in 1981 and specialises in clinical negligence with wide-ranging experience in other areas.

He said: “This is definitely the right deal for my firm and I am very excited about the prospects of developing our presence in the region under the Simpson Millar brand.

“It was extremely important for me to make a deal with a reputable, honest and Lexcel accredited firm, but also one which is ambitious and forward thinking.

“The management team at Simpson Millar has been highly professional throughout the negotiation process and I am confident in what we can achieve.”