Legal firm acquisition
Law at Work scales up with Square Circle deal
Law At Work has acquired Glasgow-based Square Circle which will enhance its human resources consultancy.
Square Circle’s nine-strong team will join 33 in the Edinburgh and Glasgow offices of LAW which is aiming to become a leading mid-market consultancy.
The deal was completed with finance provided by HSBC. The terms were not disclosed.
Jane Wright, LAW’s chief executive, said: “Since the MBO in 2012 our ambition has been to grow the business into a significantly larger company and this merger will be a significant first step towards us realising this goal.”
Annual results to May 2016 show 3.5% growth in the firm’s income with profits remaining steady.
“This acquisition will enable us to deliver a step change in growth over the next few years,” said Ms Wright.
“Square Circle HR has an excellent reputation for the quality of the service they provide and we were immediately impressed by the directors and the personalised client relationships they and their people have developed over the years.
“Our focus in the coming months will be to ensure that our teams work together to continue to provide the very best support for our clients.
“We have invested heavily in gearing up Law At Work in anticipation of growth, both in terms of staff and IT infrastructure, and we are now ready to capitalise on that investment and anticipate that the next financial year will see the turnover of LAW grow towards £3 million.”
Square Circle company director Roz Wood, who will be the new head of HR consultancy services for LAW, said: “We have been discussing this step with a number of potential buyers as the culmination of the board’s five-year strategic plan for Square Circle HR.
“Law At Work were by far the best suitor for our business. This is a fantastic opportunity for our clients to become part of a bigger company.”
LAW were advised by David Beveridge of Macdonald Henderson and Neil Grimmond of Craig Corporate.
Paul Mason of Lomond Advisory and Michael Murphy of Omnium Law advised Square Circle HR.