Beaumont Legal, a 200-year-old firm in Wakefield, West Yorkshire which describes itself as one of the largest conveyancers in the country, will become part of LegalZoom by the end of the year.
Texas-based LegalZoom, founded in 2001, is one of the best-known legal brands in the US, where it says it has prepared more than 2 million documents such as wills online. In 2014 a company backed by global private equity firm Permira became the largest shareholder in the business, with a £122m investment to fund expansion.
In January this year LegalZoom UK announced that it had been licensed by the Solicitors Regulation Authority to provide reserved legal activities as an ABS. It was the first US-based legal business to take this step. However since then it has been dormant. Its most recent published accounts show a loss of £64,000 in 2014.
Nick Masheder, managing partner of Beaumont Legal, said that the acquisition is a catalyst for the start of a significant recruitment drive at the firm: ‘This is an unparalleled opportunity to join with the most innovative, well-known legal brand in the world. We’re also looking forward to considerably adding to our existing capabilities with forward-thinking, innovative individuals who want to be part of something truly special.’
Read the full Law Society Gazette article here