Leading law firm Blake Morgan has supported chartered surveying practice Smithers Purslow throughout its acquisition by Gateley, the legal and professional services group.
The £20 million deal covered the sale to Gateley of Smithers Purslow’s entire issued share capital, with Blake Morgan advising on all aspects of the acquisition process, as well as its implications covering property, tax, employment and pension law – bringing together a cross-sector team of experts from across the firm.
Smithers Purslow is a highly regarded, rapidly growing, multi-disciplinary chartered surveying practice working across 10 regional UK offices and employing 130 staff. It primarily resolves high value UK property insurance claims for blue-chip clients, including insurance companies, utility companies, property managers and high net-worth individuals. The acquisition by Gateley provides significant opportunities for growth to Smithers Purslow, with the group complementing existing expertise at Gateley. The current senior management team will remain in post.
Blake Morgan’s team was led by partner Martin Kay, who heads up the firm’s corporate team in London, and demonstrated its wide-ranging expertise by providing comprehensive support throughout the acquisition. The deal was completed in April 2022 and Smithers Purslow will now trade under the name Gateley Smithers Purslow.
Martin Kay, Partner at Blake Morgan, said:
Acquisitions are often a complex process with each case bringing its own challenges, which meant that the cross-sector expertise from Blake Morgan played a vital role in providing tailored support for Smithers Purslow to facilitate this complicated development. As long-standing clients, this latest work was built upon the strong relationship already forged between Blake Morgan and Smithers Purslow.
Steve Fraser, Managing Director at Gateley Smithers Purslow, commented: “We would like to express our thanks to Martin and his team at Blake Morgan for all their hard work and dedication involved in getting the deal over the line. As always, the Blake Morgan team took a very thorough, professional and proactive approach to make sure that every aspect of the transaction was exhaustively researched and carefully explained. We were delighted with the result and have no hesitation in recommending Blake Morgan’s comprehensive range of corporate legal services.”