Firstassist Legal Expenses – the UK arm of top litigation funder Burford Capital – will now operate under the Burford brand, it has been announced.
The ‘brand integration’ comes one year after the completion of Burford’s acquisition of Firstassist in February 2012.
Burford recently described the acquisition as “an unqualified financial success in addition to the substantial strategic benefits it has brought”, prompting it to make an early payment of the earn-out for former shareholders.
As well as third-party funding, Burford UK will continue to provide stand-alone after-the-event insurance (ATE), the company confirmed.
Ross Clark, Burford’s chief investment officer in the UK, said: “Burford’s acquisition of Firstassist and its subsequent integration has involved a great meeting of minds, skills and resources, and we are delighted to be able to bring our work together under one brand.
“As we approach the deadline for implementation of the Legal Aid, Sentencing and Punishment of Offenders Act 2012, Burford is perfectly positioned to provide solutions for all litigation finance requirements. We look forward to helping solicitors and their clients in these challenging times.”
Burford’s global chief operating officer Andrew Langhoff added: “We see enormous opportunity for Burford in the UK, and are very pleased with the progress of our operations here to date. The economics of litigation in this country will change dramatically with the implementation of the Jackson reforms in April, and we believe that our now fully integrated operations are uniquely positioned to offer a comprehensive suite of products to meet the changing needs of this market.”