Irwin Mitchell subsidiary Ascent announces intention to acquire PDP Management Services Ltd
Irwin Mitchell has confirmed its intention to acquire field agency PDP Management Services Limited through its subsidiary Ascent, subject to approval by the Solicitors Regulatory Authority (SRA).
The deal will be the latest stage in Irwin Mitchell’s plans to continue to grow its business across the full range of services offered to clients and will see PDP continue to trade under its own name but operate as a subsidiary of Ascent and as part of the Irwin Mitchell group.
The latest news from Irwin Mitchell comes just seven weeks after the company was confirmed as having become one of the first Alternative Business Structures to be approved by the SRA and the first multiple-licensed firm, receiving five licences for companies within its group structure, including Ascent, on August 20.
As part of the acquisition, it is intended that PDP will be licensed by the SRA as an ABS, taking the number of licences held by firms owned by Irwin Mitchell to six.
Mark Higgins, Chairman of Ascent, said the acquisition would strengthen the position of both Ascent and PDP in a number of key sectors, including financial services and utilities, and enable both firms to offer even better value to clients.
Higgins said: “Ascent and PDP both offer high quality services to major financial institutions, reflected in both companies’ high rankings in major clients’ own ratings for service and quality.
“Bringing both companies together will enable us to combine that quality and offer improved value for money to current and future clients through our shared expertise and even stronger infrastructure going forward.
“Ascent, and of course our clients, will also benefit from adding to our existing high quality team the experience of the PDP team, who will bring additional expertise and credibility to our offering in key sectors.”
John Pickering, Group Chief Executive, IMCO Holdings Ltd, commented: “Ascent is an expanding business and an important part of our growing and successful Group.
“Our strategy has been to build a diverse legal practice which offers a wide range of high quality legal services across both the business and personal client sectors. This fits well with our strategic growth plans for both Ascent and Irwin Mitchell.”
Peter Wilson from PDP said: “This development is very much welcomed as a natural progression for our company, which was started by the three founding Directors in 1997, David Thomas, Peter Gander and myself, and has over that time established itself as a strong brand in the Utilities and Mortgage Arrears Counselling arenas.
“We are excited about the future and look forward to working with Mark and Niall Gilhooley, CEO of Ascent, in further development of our combined service offerings. PDP will continue to operate from Banbury where we have established expertise in management and staff.
Ascent began trading in 2009 offering field agency and other support services to a significant number of major financial institutions and other corporates, and has grown strongly in its first three years.
PDP began trading in 1997 and offers field agency and other support services to a number of major utility companies and other financial institutions. It currently employs 30 people, all of whom will transfer to Ascent as part of the acquisition but continue to work under the PDP name.
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