Legal business DWF Group has reached an agreement to acquire the legal services business of K&L Gates Jamka for an estimated net asset value of £3m, it announced on 2 May 2019.
The London-listed firm said the acquisition would result in the opening of a new office for DWF in Poland – its first since its initial public offering – with 11 partners, 45 lawyers and a further 31 support staff joining DWF.
It said the deal was expected to be completed later in May.
DWF explained that K&L Gates Jamka, led by managing partner Michal Pawlowski, specialised in commercial legal services including corporate and mergers and acquisitions, litigation, banking, finance and restructuring, energy and environment, venture capital and private equity, and intellectual property across a “broad range” of sectors.
K&L Gates Jamka was expected to generate revenue of £7m in the financial year ending 30 April 2020.
The acquisition was the first since DWF became the first main market premium-listed legal business on the London Stock Exchange in March, with the board saying it was evidence of the group’s strategy to grow its complex, managed and connected services capabilities.
“We look forward to welcoming Michal Pawlowski and his colleagues to DWF,” said the company’s managing partner and chief executive officer Andrew Leaitherland.
“This move will strengthen DWF’s capabilities in our global sectors of financial services and real estate, among others, and provides further opportunities in technology and energy where our businesses have strong alignment. It is the next step towards achieving our strategy of delivering complex, managed and connected services on a truly global scale.”
Leaitherland said it also fulfilled one of the international expansion opportunities DWF highlighted in its prospectus.
“Poland has a strong and dynamic economy and is an important gateway to central, eastern and southeastern Europe as a whole.
“Having a presence there delivers on our international strategy to be where our clients need us to be.”
Michal Pawlowski added that becoming part of DWF provided the opportunity to continue his company’s growth and development plans within both the legal services and connected services markets of Poland.
“Our values and culture, as well as our strongly aligned sector focus provide a platform for our future success.”
The Warsaw office would be DWF’s seventh continental Europe office alongside Brussels, Paris, Milan and three in Germany.
On completion, DWF would have more than 3,200 people across 28 key commercial centres in the UK and internationally, on four continents.