(Alliance News) - DWF Group PLC on Monday said it has acquired Whitelaw Twining Law Corp and TWK Management Ltd as it expands its offerings in North America.
DWF is a Manchester, England-based legal business with operations in North America. Whitelaw Twining is a Canadian law firm specialising in insurance, commercial litigation and personal injury.
The acquisition is valued at up to CAD42.6 million, around GBP29.9 million, with a total of CAD26.0 million payable in cash and shares, while a debt of CAD16.6 million to be repaid or assumed.
In 2021, Whitelaw Twining's revenue was CAD34.5 million. It had pro forma earnings before interest, taxation, depreciation and amortisation of CAD5.3 million.
DWF expects Whitelaw Twining to be earnings enhancing in the first full year of ownership. DWF said the acquisition brings "greater sale" and an enhanced platform in North America.
The transaction marks the "next step" in DWF's North American strategy and will result in an integrated legal and business services offering in Canada aligning with the existing Mindcrest and claims operations in Chicago, it added.
Mindcrest is a DWF subsidiary acquired in January 2020.
Chief Executive Officer Nigel Knowles said: "We are delighted to be enhancing our offering in the Canadian legal market. Whitelaw Twining is one of the country's top legal businesses and represents a high quality opportunity for our clients. It also allows us to expand our claims and adjusting presence in Canada and wider Connected Services and Mindcrest capabilities in North America."
Shares in DWF were flat at 69.20 pence each in London on Monday afternoon.
By Chris Dorrell; chrisdorrell@alliancenews.com
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