Gordon Dadds Group plc, the acquisitive London-based legal and professional services business, has completed the acquisition of specialist technology solicitors White & Black for £2.918 million.
The acquisition will be funded entirely from existing cash resources and is expected to be significantly earnings enhancing for the first full year, to March 31, 2019.
White & Black is a law firm specialising in technology and corporate law and related intellectual property and dispute aspects. It has a substantial international client base, with a particularly strong presence in the Far East, comprising mainly corporate, private equity and investment clients.
For the year ended 31 October 2017, White & Black achieved unaudited EBITDA of £0.85 million and a profit before tax of £0.66 million on fee income of £2.59 million.
Commenting on the acquisition Adrian Biles, chief executive officer of Gordon Dadds, said: “I am delighted to have completed our second focused and specialist acquisition after Gordon Dadds’ successful IPO in August 2017. White & Black is a highly regarded and profitable business which will add to the Group’s expertise in the technology and corporate space. It will also provide further opportunities for cross-selling services within the Group.
“This acquisition demonstrates Gordon Dadds’ ability to attract profitable, growing businesses and the acquired White & Black brand will benefit from being part of the enlarged Group with access to a wider range of services.
“Gordon Dadds continues to receive approaches from potential acquisition targets to make acquisitions and has a good acquisition pipeline which will enhance skills, earnings and the reach of the Group.”
White & Black is based at Bladon, near Oxford. It also has an office in London's Jermyn Street.
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