Fairpoint completes legal buy

(ShareCast News) - Consumer law company Fairpoint Group has completed its buy out of law firm Colemans-CTTS.The deal involved an £8m cash payment and the issue of 755,516 ordinary shares at 132p per ordinary share.Fairpoint Group chief executive Chris Moat said the acquisition would add annual revenues of £19m, and legal services would now generate a majority of the group's income."The acquisition is in line with our commitment to consolidation in the legal services marketplace and represents substantial progress towards our objective of creating a top 5 UK consumer legal services business, Moat said.Shares in AIM listed Fairpoint were down by 0.6% to 158.55p at 0802 BST.