Manchester-headquartered global commercial law firm DWF is to acquire a US legal and managed services business in a $18.5m deal.
Chicago-headquartered Mindcrest, which specialises in services including litigation support, contracts, compliance and legal analytics, has expected sales of $12.1m - £9.2m - and EBITDA of $1.2m - £900,000 - for the financial year to December 31.
DWF said the acquisition will give it a “range of new revenue opportunities”, while expanded managed service capabilities would help DWF offices to grow their offerings.
The group said annual cost savings would reach £2.9m for the 2022 financial year as a result of the acquisition.
The acquisition will see 360 new employees join DWF, most of which will be based in Pune, India, taking its workforce to 4,200 staff in 33 locations.
Andrew Leaitherland, DWF group chief executive, said: “Mindcrest is an excellent fit for our business, allowing us to rapidly expand our managed services offering in both existing and new areas, accelerating growth in this key offering that remains central to our strategy.
“Managed services continues to be a real differentiator for DWF, and Mindcrest will provide the resources to better support our clients globally by meeting their requirements where and when they need them.
“Following the recent RCD acquisition, the Mindcrest deal further highlights our M&A strategy and the attractiveness of our business model, as we continue to deliver on our IPO promises and grow our international offering in targeted locations and disciplines that complement our existing business, while attracting and retaining the best talent.”
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Ganesh Natarajan, Mindcrest chief executive, added: “As one of the oldest legal services companies, Mindcrest has established a reputation for high quality and exceptional client service.
“This will be enhanced with DWF Mindcrest, bringing the right talent, technology, and processes coupled with strong project management to develop innovative integrated solutions for our clients across the globe.
“Our shared vision, values and culture makes DWF Mindcrest a winning combination.”
The transaction is expected to complete in the next four to six weeks, subject to pre-conditions, the firm said.
The acquisition comes after the group announced last month it had acquired Spanish law firm Rousaud Costas Duran to establish a “major presence in Spain”.