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Irwin Mitchell eyes £500m flotation, ‘City sources’ claim

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10

Could happen this year, apparently

Irwin Mitchell is exploring a flotation on the London Stock Exchange (LSE) in a move which could value the national giant at half a billion.

Mysterious “City sources” claim the Sheffield headquartered outfit is working closely with investment bankers from Rothschild on the possible float, with aspirations of securing a £500 million valuation.

The flotation “could take place as soon as this year”, according to Sky News, which first reported the story.

“We’ve taken no decision to introduce external investment,” a spokesperson for the firm said. “We remain in a strong position financially with our existing bank facilities offering us sufficient firepower to invest further in the growth and transformation of our business.”

But this isn’t the first time IM has been linked to a potential listing on the LSE, with reports dating as far back as 2011 claiming the firm’s top brass were eyeing external investment through a flotation.

The 2021 Legal Cheek Firms Most List

The Legal Cheek Firms Most List shows IM has steadily grown over the past ten years, with 15 offices across the UK and revenues in excess of £270 million. It is also one of the biggest outfits to secure alternative business structure status, a move which allows the firm’s non-lawyers to become partners too.

If given the go-ahead, IM would become the sixth UK firm to float, joining the likes of DWF, Knights and Gateley, among others.

And Legal Cheek couldn’t resist a piece of the action when at the start of year, we came over all Wolf of Wall Street and created a fund for the six listed firms, apportioning £100 each. You can check out how it’s doing here.

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10 Comments

Topkek

“aspirations of securing a £500 million valuation”

LOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOL 😀 😀 😀

(38)(5)

Anon

Well I mean its annual rev is circa 200m so a 500m valuation isn’t a crazy stretch

(9)(20)

Cum ere often ?

Lmao hi Irwin Mitchell BD team.

(28)(5)

Bob

What was the profit though? Some of these PI firms operate on very small margins.

(7)(2)

Anon

Single digits. Easily.

(18)(2)

🕜🕜

Deliveroo 2 electric boogaloo

(22)(1)

Touker

April Fool’s Day was nearly two weeks ago!

(21)(0)

Anon

Any fund manager that invests a man’s pension in this monstrosity ought to be represented by Irwin Mitchell in their inevitable economic negligence suit, so they truly understand how badly they fucked up

(6)(1)

Anon

Congratulations on selling out all future generations of partners.

I’ve said it on a previous article and I’ll say it again – listed firms are trashy as hell.

(3)(0)

Anonymous

Kudos IM!
and under overwhelming
covid 19 odds too.

(0)(0)

Comments are closed.

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