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Leonard Curtis plans to double revenues to £50m
Leonard Curtis Group has unveiled ambitious growth plans to double turnover to £50m in the next three years.
The announcement comes nine months into a new relationship with North-West based investment office Arete Capital Partners, who invested £15m in the Group in partnership with Svella, a specialist in developing distressed and underperforming operating businesses.
Leonard Curtis is the largest privately-owned professional services provider of corporate restructuring and insolvency in the UK with 250 people across 21 offices including London, Manchester, Birmingham, Leeds as well as the Channel Islands.
Demand for the firmes services has been increasing rapidly this year as businesses look for recovery solutions after the pandemic and the investment and sharing of complementary expertise is starting to bear fruit.
Ben Whawell, a director at Svella, said: We get involved with businesses, were very good at working with distressed or turnaround situations, and also quite entrepreneurial at looking for opportunities in the market.
The earlier we can get in to help a business, the earlier we can help to find a solvent solution and we can do that by working alongside Leonard Curtis because we can bring the financial support, we can help the business and the turnaround of it.
Leonard Curtis Group, which has a current turnover of £28m, is well placed to achieve its growth targets as Group Finance Director, Jon Mercer explained: Our ambition is to double the existing business which currently has three pillars legal services, restructuring and insolvency, and raising finance in the next three years.
At the same time, we want to add a fourth pillar which could be M&A or tax consulting. The corporate finance market is strong in the UK, and it complements our current services and expertise, and the synergies align quite well.
CEO Dan Booth added: We also want to keep investing in our people through organic growth and key lateral hires, and well be looking at acquisitions.
The company recently acquired Southampton-based Portland to strengthen expertise in the South.
Booth continued: There are exciting opportunities in the Channel Islands too. The market isnt mature in terms of restructuring and is under-served by businesses like ours, so we see strong growth there.
He added: Doubling the size of the business in three years might seem tough, but if you commit to it, and youre consistent in your approach, and you have confidence in your ability, ites achievable.
Simon Lord, founding partner at Arete, added: There are certainly a lot of challenges in the economy right now, and were not immune to it. The challenge in any professional services business in the UK is that it is a mature market.
Restructuring advice is like any other discipline, it is a competitive business, so weve got to use the tools available to make sure that we remain competitive in a reasonably well populated marketplace.
The platform weve got at Leonard Curtis - including 250 people and 21 offices and a national network - is not easily replicated and not many people have got that so we need to get that message out there in the marketplace.
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Leonard Curtis Legal Limited is a limited company, registered in England and Wales with registered number 09820186. Registered office: Riverside House, Irwell Street, Manchester M3 5EN. Leonard Curtis Legal Limited is registered with the Solicitors Regulation Authority with number 626004.