Listed trailblazer snaps up London firm in £30m deal
Rosenblatt 🤝 Memery Crystal
The parent company of listed law firm Rosenblatt has clinched mid-market outfit Memery Crystal in a £30 million deal.
Rosenblatt Group Holdings plc (RBG), which is listed on the Alternative Investment Market (AIM), a sub-set of the London Stock Exchange (LSE), acquired the 29-partner boutique London firm this week. Memery Crystal’s partners will receive a combination of cash and RBG shares for their stake in the firm.
The deal will see both businesses retain their own management, brand identities and separate offices.
Nicola Foulston, CEO of RBG Holdings, said Memery Crystal is a “complementary fit” with Rosenblatt. “We believe the acquisition will be transformative in terms of the scale of our business,” she added. “Memery Crystal is a very successful firm, which combined with our commercial focus on margin and cash, can be even more profitable.”
Nick Davis, CEO and managing partner of Memery Crystal, who will continue in his role, added that it will be “business as usual” for the firm as it joins up with RBG. “The strength of the combined group will mean we can offer enhanced services to clients and provide a stronger entity for staff to develop their careers,” he said.
In 2018, dispute resolution specialist Rosenblatt became the fourth UK law firm to list on the AIM, following Gateley in 2015, and Ince Gordon Dadds and Keystone Law the previous year. Other listed firms include DWF and Knights, which acquired Surrey-based firm Mundays for £5.3 million last month in a bid to bolster its presence in the South East.