Acording to the Liverpool Daily Post, the well known and established law firm, Paul Rooney Partnership Solicitors, has been taken over in a major acquisition deal. Sold to the Manchester based personal injury law firm, Antony Hodari.
Paul Rooney, based in Stanley Street, carries out extensive radio advertising, making it one of the best-known personal injury brands across the country.
It will retain its name under the merger and it is expected that all 50 staff will continue in their roles. Founder Paul Rooney will continue to be involved as a consultant, providing his expertise on the businesses direct marketing activities.
Mr. Rooney founded the firm bearing his name 35 years ago. He said: “I’m delighted there’s going to be continuity of staff. It’s good news for the employees, and for the clients, because they will have continuity of the people dealing with their cases. It’s also good news for Liverpool as it means a highly resourced firm will still be based here.”
The merger has been explained as part of preparations for the major changes due to hit the personal injury sector next April. This includes bringing in the recommendations from the Jackson Report.
Mr Rooney continued: “From April next year, a lot of the firms are not going to have the volume of work to survive, because the fees they receive to deal with accident claims will be reduced.
“The only way firms can survive is to increase the volume of cases, to enable them to continue to act for people in personal injury cases.
“I am confident that the combination of our brand with Antony Hodari’s systems and skills will make for a powerful player in the personal injury market.
“It will become harder for injured people to bring claims from next year and they will need firms with the resources of an Antony Hodari to take on their cases and fight for their rights.”
Antony Hodari already has105 staff and this merger will represent significant expansion for them.
Mark Grover (CEO) commented: “Paul Rooney Partnership is a fantastically well-known brand, particularly in the north-west, and this acquisition allows us to diversify and obtain work directly. Our strategy is predicated on growth, as you need scale to drive down the cost base, and we will be looking to grow the direct side of the business quickly. Size will be vital in the post-Jackson world of squeezed margins for claimant lawyers. While next year’s reforms will make life more difficult for claimant lawyers, there will be opportunities for firms that are efficient, well run, and technology enabled. We believe that we are now in a position to take advantage of the reforms.”