Frenkel Topping adds recruitment business in latest consolidation move

Fraser: Consolidating the fragmented professional services market

Listed financial services firm Frenkel Topping has continued its acquisition spree by buying Daniel Lewis Law, a recruitment firm specialising in personal injury and clinical negligence.

The move comes on the heels of the company entering the costs market earlier this year with £9m double acquisition of Partners in Costs and A&M Bacon.

Best known for managing the compensation of seriously injured people, Frenkel Topping Group’s stated mission now is: “To pursue quality opportunities in, and drive consolidation of, the pre-settlement professional services marketplace in personal injury and clinical negligence and to ensure the group has as many touch points as possible in the personal injury/clinical negligence space in order to capture as many revenue opportunities as possible.”

In 2019, Frenkel Topping launched its accountancy arm, Equatas, to assist clients with tax planning, and last year bought specialist forensic accounting services business Forth Associates, which it said made it the largest independent provider of financial expert witness reports to the claimant market.

An attempt to take over NAHL plc, however, was called off earlier this year.

The legal recruiter was founded in 2017 by Daniel Lewis, former managing director of Longbridge Law, and he was joined in 2019 by Grainne Barton, who was a clinical negligence partner at Welsh firm Hugh James.

Frenkel Topping chief executive Richard Fraser said: “Frenkel Topping’s 30-year history is built on solid expertise in a very specialist field. Our future growth and our acquisition strategy is based on expanding that expertise and consolidating the fragmented professional services market.

“Daniel and Grainne know our professional clients so well. They live and breathe our sector and they know what law firms and departments want and need from their partners.”

Frenkel Topping has also announced its 2020 results, with revenue up 19% to £10m – of which £7.3m is recurring revenue, up 9% – and pre-tax profit up 25% to £1.5m. It now has over £1bn in assets under management, up 13% on 2019.

The group has this year appointed two new non-executive directors: well-known personal injury solicitor and adviser Zoe Holland, founder of ZebraLC, and former Conservative MP Mark Field.

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