Irwin Mitchell prepares to sink or swim
updated on 28 April 2011
Irwin Mitchell looks set to become the first UK firm to float on the Stock Exchange when Legal Services Act 2007 provisions allowing firms to restructure their partnerships as alternative business structures come into effect in October 2011. The firm is currently being advised by Banco Espirito Santo and Deloitte on fundraising and restructuring its partnership to make space for external shareholders.
Irwin Mitchell's managing partner John Pickering told The Times that no plans had yet been finalised but a listing was the most likely outcome, although the firm is also considering selling a stake to private equity investors. “The [act’s] reforms will create exciting opportunities for strong, well-financed legal businesses to accelerate their growth plans. We intend to be at the forefront of these changes and have taken the decision to seek external investment to further our ambitious plans.”
