A midlands-based law firm has acquired the debt recovery specialist Incasso, Credit Today can reveal.
Redditch-based HL Legal Solicitors (HL) acquired all of the client business and assets of Incasso shortly after the appointment of accountancy firm KPMG as administrators.
After a transaction that completed today (February 13), HL takes over responsibility for all of the current and prospective client business of Incasso, the 52 staff working in Incasso’s Leeds offices and the fixed assets and trading style of the business.
HL has committed to work with the staff of Incasso and the Solicitors Regulation Authority (SRA) to ensure a smooth transition of the business.
Incasso was formerly 100% owned by the legal firm Cobbetts, which earlier this month was sold to DWF after a pre-pack administration, also undertaken by KMPG.
HL issued a statement to Credit Today stating that it puts “the highest priority on ensuring that there is no disruption to any client business” and that Incasso continues to be run in accordance with all SRA regulations.
There are close synergies between the two firms, with HL having more than 20 years’ experience of handling consumer and commercial debt collection, as well as associated litigation for blue chip clients.
Steve Slatter, head of legal services at HL, said: “We are very pleased to have the opportunity to work with the clients of Incasso and we are determined to ensure that they continue to receive an excellent service from HL.
“We are making contact with all clients to discuss the business in hand and their future requirements. This transaction is very important for the further development of HL’s business.”
Mark Firmin, head of KPMG’s UK regions restructuring practice and joint administrator to Incasso, said: “Following our appointment as administrator to Incasso, the Cobbetts-owned debt recovery company, we are pleased to provide some certainty for the business and to have concluded the transfer of all the remaining Cobbetts’ business and assets.”