National business law firm, DWF has today announced its intention to acquire Cobbetts LLP, as part of its strategic growth plans.
Like many businesses, Cobbetts had built an infrastructure reflecting the buoyant economy of the mid 2000’s and had put in place plans to reduce costs. However, poorer than expected trading in November and December last year caused the firm to review its financial position and subsequently obtain an interim statutory moratorium to enable a sale of the business and its assets. It is believed by the members of both firms that a sale to DWF represents a solution that would secure the most favourable outcome for its creditors, members, people and clients. For clients this move would facilitate the continuation of service delivery and business as usual, with the same service terms they have enjoyed at Cobbetts, thereby ensuring a smooth transition for them and their business interests.
Managing Partner and CEO of DWF, Andrew Leaitherland, commented: “DWF’s plans to grow, in a strategic, targeted way have been clearly set out and this move supports that goal. I am confident that the merging of the two firms would bring genuine benefits to both and, importantly, the joint client base. There are many synergies between the two firms in terms of the sectors in which we operate and this collaboration will further strengthen our existing business. I am very much looking forward to welcoming the new team to DWF.”
The process of transferring people across to DWF will start in the next 7 days if the deal is approved. Andrew continued: “The legal industry as a whole has faced significant challenges. We will do all we can to make the integration as smooth as possible, however, as you’d expect in a move of this size, there are some areas of overlap and we may have to displace people or find them alternative roles. We will work hard to support all those involved.”