2 May 2019 07:00
RNS announcement
DWF Group plc to acquire the legal services business of K&L Gates Jamka sp.k
· Team of c.85 to join DWF from the former Warsaw office of global law firm, K&L Gates
· Entry into Polish legal market builds on DWF's existing European footprint, marking opening of first international office since IPO
DWF Group plc (DWF), the Main Market listed global legal business, today announces that it has reached an agreement to acquire the legal services business of K&L Gates Jamka sp.k (K&L Gates Jamka) for an estimated net asset value of £3m. The acquisition will result in the opening of a new office for DWF in Poland, its first since its IPO, with 11 partners, 45 lawyers and a further 31 support staff joining DWF. The deal is expected to be completed later this month.
Led by managing partner Michal Pawlowski, the established and highly-experienced team specialises in commercial legal services including corporate and M&A, litigation, banking, finance and restructuring, energy and environment, venture capital & private equity and intellectual property across a broad range of sectors. K&L Gates Jamka is anticipated to generate revenue of c.£7m in the financial year ending 30 April 2020.
The acquisition is the first since DWF became the first Main Market Premium Listed legal business on the London Stock Exchange in March 2019 and is evidence of the Group's strategy to grow its Complex, Managed and Connected Services capabilities, while attracting and retaining the best talent, investing in technology and carrying out targeted M&A.
Andrew Leaitherland, managing partner and CEO at DWF, said: "We look forward to welcoming Michal Pawlowski and his colleagues to DWF.
"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.
"It also fulfils on one of the international expansion opportunities we highlighted in our Prospectus. Poland has a strong and dynamic economy and is an important gateway to Central, Eastern and South-Eastern Europe as a whole. Having a presence there delivers on our international strategy to be where our clients need us to be."
Michal Pawlowski said: "Becoming part of DWF provides the opportunity to continue our 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 expansion marks the first new location for DWF since its March IPO. The Warsaw office will be DWF's 7th continental European office alongside Brussels, Paris, Milan and three in Germany. On completion, DWF will have more than 3,200 people across 28 key commercial centres in the UK and internationally, across four continents.
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