The Group’s strategy is to continue to develop its business by way of organic growth and by acquisition.
The UK legal services market continues to exhibit growth and clear opportunities exist for Gateley to grow organically, in particular from:
- The retention of existing partners and fee earners and their commitment to Gateley and opportunities it provides, as demonstrated by the extended five year lock-in arrangements the existing partners have entered into
- Attracting new talent wishing to be a part of a progressive legal services business
- Enhanced cross-selling opportunities afforded by the adoption of an ABS. Whilst legal services will always remain at the heart of the business, the Directors believe there is a compelling logic to adding complementary business services, such as regulatory advice, compliance and professional training, alongside Gateley’s existing legal service offering
- Entering new regional markets such as the Thames Valley region via the Reading office, which opened in December 2015
- Improving Gateley’s bank panel representation and “own account” work for banks
- Extending Gateley’s relationships with the UK’s leading house-builders and in particular in those divisions and regions where Gateley does not currently act for them
- Expansion of specialist areas such as regulatory into other geographical areas
- Growing Gateley’s corporate teams in each region, in particular Yorkshire and the North West
- Developing Gateley’s project litigation offering and taking advantage of the offshore work this generates.
In addition to organic growth, Gateley intends to take advantage of being the first law firm whose shares are admitted to trading on AIM and being at the forefront of anticipated consolidation within the UK legal services sector.
Acquisitive growth will be achieved through the acquisition of:
- Legal teams or firms offering niche services, sector specialism or geographic expansion
- Complementary business services businesses.
A broader set of services will increase the potential for cross-selling to existing clients and represent a stronger sales proposition for potential new clients.