Clearwater unveils legal advice team
Clearwater Corporate Finance has launched a specialist team to advise on issues facing the heads of law firms.
The advisory firm, which has offices in Birmingham and Nottingham, said the new team had been set up in advance of the alternative business structure (ABS) which will be introduced in October 2011.
Under the Legal Services Act 2007, ABS will open up the industry to outside practices for the first time.
Legal firms will have a broad range of options available to them to realise value, including IPO, sale, merger or private equity investment.
Phil Burns, managing partner and head of legal services at Clearwater, said: "For the first time, firms will be able to raise capital from outside of the banks and the partners themselves.
"This capital may be deployed to enable a firm to open up its offer to clients by broadening its services within the sector or by expanding away from the law into other complementary areas, such as property, taxation or IP."
