DWF Group law firm expands into Canada with £28m acquisition of independent rival Whitelaw Twining
- DWF said the acquisition of the Vancouver-based company was a ‘strong strategic match’
- Deal expected to boost Whitelaw Twining profits by £600m a year from 2024
- DWF, the only law firm listed on the LSE, saw shares fall in early trading
Legal services group DWF has expanded its presence in Canada by agreeing to acquire independent firm Whitelaw Twining in a deal worth up to £27.7 million.
The company, the only law firm listed on the Stock Exchange’s main market, said the acquisition would deliver “a strong strategic fit, increased scale and an enhanced platform in North America.”
The deal with Whitelaw Twining, which provides legal services, provided “clear synergy opportunities” with DWF’s existing claims and adjusting businesses in the country, the company told investors Monday.
‘Strong strategic fit’: DWF said there were clear synergies between the two companies
DWF, which counts the NHS and Allianz among its clients, said both firms have “global insurer clients” and that the deal will allow them to develop new opportunities and “acquire referral work.”
It estimates ‘carefully’ that the transaction will boost Whitelaw Twining’s profits by around £600m a year from 2024, thanks to synergies between the companies.
DWF chief executive, Sir Nigel Knowles, said: ‘Whitelaw Twining is one of the best legal firms in the country and offers a high quality opportunity for our clients.
“It also allows us to expand our claims and adapt our presence in Canada and broader Connected Services and Mindcrest capabilities in North America.
“We have worked hard to ensure that DWF is in a strong position to confidently make these important international acquisitions, enabling us to make further progress against our strategy to become the leading global provider of integrated legal and business services.” to be.’
DWF Shares fell 2.4 percent to 67.53p in early trading on Monday as investors processed the news. They have lost about 38 percent of their value in the past year.
DWF already operates in approximately 30 provinces around the world and employs approximately 4,000 people.
It provides legal advice to areas such as hiring and firing, mergers and acquisitions, corporate restructuring and regulation. But it also has two related divisions: Mindcrest and Connected Services.
Mindcrest has created software to perform certain types of legal work faster and cheaper than attorneys, while Connected Services assist clients with risk assessment, auditing, claims management, training and forensic accounting.
Whitelaw Twining is a full-service dispute resolution law firm founded in Vancouver with over 150 fees in its Vancouver and Calgary offices.
It operates in insurance, commercial litigation, construction, claimant personal injury and alternative dispute resolution.