Private company acqires law firm for 19.3 million pounds

January 26, 2012 Publicly traded company Quindell Portfolio has announced a plan to purchase personal injury law firm Silverbeck Rymer, in what may be the first transaction of this kind under the new Legal Services Act in the United Kingdom. Quindell will pay 19.3 million pounds for the Liverpool-based firm, with just over half in cash and the remainder with shares.

“Personal injury is one of the biggest areas of claims costs to insurers, and it’s an area where there are still a lot of conflicts,” chairman Rob Terry of Quindell told the Financial Times. “This is about all firms operating their costs at the most appropriate level.”

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