Shine's class actions division grows with acquisition of ACA Lawyers
5 October 2018, Written by David Simmons
Listed law firm Shine Corporate (ASX: SHJ) will spread its class action division further into New South Wales with the acquisition of ACA Lawyers.
ACA Lawyers are a specialist class action firm, with expertise in litigation and dispute resolution.
Shine's acquisition was effective from the 1st October, and the firm says it will be earnings accretive in the current financial year.
Managing director of Shine, Simon Morrison (pictured), says the acquisition will bolster the company's operations.
"We are delighted to have ACA Lawyers join the Shine Group," says Morrison.
"In addition to meeting our strategic acquisition criteria, the acquisition will add experience, diversity and capacity to our class actions team. We're confident the additional capabilities brought into the team will fortify Shine's future earnings growth."
Principal lawyer from ACA, Craig Allsop, will remain with the company and join Shine's existing Sydney class actions team.
Shine's acquisition follows another high profile merger announced by Thomson Geer on Thursday.
Thomson Geer has acquired mid-market banking and finance focused law firm Kemp Strang.
All of the assets, 13 of Kemp Strang's current 16 partners, and the majority of Kemp Strang's professional and support staff (74 in total) will now fall under the Thomson Geer banner.
The acquisition will increase Thomson Geer's total partner and staff number to 550 and expand the Thomson Geer partnership from 98 to 110.
The company says it acquired Kemp Strang as a commitment to building its finance capability to complement its transactional strengths, and a desire to expand its insolvency, restructuring and recoveries service.
Adrian Tembel, Thomson Geer's chief executive partner, says the acquisition was very calculated.
"This is a very carefully crafted consolidation move by Thomson Geer and Kemp Strang," says Tembel.
"It will preserve Kemp Strang's strengths in the banking and finance space and provide our mutual clients with deeper and broader solutions at Thomson Geer."
Thomson Geer's deal will go live on 29 October 2018.
Business News Australia
Author: David Simmons