Banbury arrears management firm bought by Irwin Mitchell
National law firm Irwin Mitchell have bought Banbury-based arrears management, provisions and losses business PDP Management Services.
The deal has now been approved by the Solicitors Regulation Authority (SRA), and PDP will continue to trade under its own name, but operate as a subsidiary of Ascent and as part of the Irwin Mitchell group.
John Pickering, Group Chief Executive, IMCO Holdings Ltd, commented: “This deal is an important one for Ascent and illustrates our strategy of building a diverse firm which offers a wide range of high quality services across both the business and personal client sectors.
“As a law firm which prides itself on its innovative approach and a business which was the first multiple-licensed firm to be approved by the SRA, it is extremely satisfying that we believe one of our ABSs has become the first to complete an acquisition of this kind.”
Irwin Mitchell was confirmed as having become one of the first Alternative Business Structures to be approved by the SRA and the first multiple-licensed firm, receiving five licences for companies within its group structure, including Ascent, in August this year.