Integrated Legal Holdings (Integrated) is looking to acquire more east coast firms, following its acquisition of law and wealth protection firm The Argyle Partnership (Argyle).
"Certainly our objective is to develop a national network of legal services businesses," Integrated managing director Graeme Fowler told InvestorDaily.
Integrated is aiming to buy legal firms that specialise in providing services to financial planning businesses and dealer groups because these are faster growing areas, he said.
Integrated yesterday agreed to purchase Argyle for an undisclosed amount of cash, and through issuing 4.14 million of its shares at 14 cents each, among Argyle's partners.
Argyle, with offices in Sydney and Melbourne, has been working with financial planners and dealer groups, including major banks and insurance companies, for over 20 years.
Its services combine corporate, business, family, litigation and property law, with particular specialisation in the key growth industries of financial services, wealth management, superannuation, taxation and high net-wealth estate planning.
Argyle generates around $6.5 million in fee revenue per year, of which 30 per cent is derived from high growth financial services, wealth management, superannuation and taxation markets.
Integrated purchased two Perth-based legal practices last year.
