London professional services group acquires law firm in £30m deal
A London professional services group has announced its acquisition of a specialist law firm in a deal worth £30m.
RBG Holdings, which owns Rosenblatt Limited, has confirmed that it has acquired international law firm Memery Crystal.
The acquisition, which is part of the company’s mergers and acquisition strategy, was for a total of £30m to be paid in a combination of cash and shares.
Nicola Foulston, CEO of RBG Holdings, commented: “Memery Crystal is an excellent addition to the Group both culturally and operationally.
“Both businesses are entrepreneurial in nature. The Firm is a strong operational fit with our existing legal business, RBL, providing a stronger corporate, commercial, and real estate offering than we have currently.
“Together, our Legal Services division will have a full-service offering across different sectors and legal disciplines.
“Both businesses are in great shape, having performed strongly in 2020, demonstrating the resilience of their respective business models and the value clients place on the quality of the service they receive. We see opportunities to grow both firms.
“Everyone at RBG is excited about welcoming Nick and his team to the group and look forward to delivering long-term value to clients, employees and shareholders.”
Nick Davis, CEO of Memery Crystal, added: “As a firm, we are excited to be joining RBG. For Memery Crystal, it is very much business as usual. We will be retaining our own management and brand identity along with our distinctive partner-led culture.
“Memery Crystal and RBL will naturally complement each other as part of the group’s Legal Services division. 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.”
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