Cardiff Law Firm Acquired in a Management Buyout
An established firm of Cardiff based solicitors has been acquired during its 30th year in business.
Tristan Agland, a senior solicitor at the firm, completed the management buyout from the firm's founder Stuart Hutton and partner Clare Strowbridge, who will remain as consultants in the business.
Tristan is now Managing Director of the newly created Hutton’s Law Limited.
The practice will continue to trade as Hutton’s Solicitors from its existing offices in St Andrew's Crescent, Cardiff and has ambitious growth plans including the opening of a new office at LLandow in Cowbridge plus an expansion of the firm's business services section which already provides a wide range of services including commercial property, company/commercial, construction law and dispute resolution.
The deal was funded by Lloyds Bank and Finance Wales through its Wales Management Succession Fund.
Tristan Agland said:"We have built a strong reputation and brand in the South Wales market place Having spent the last 10 years of my legal career at Hutton’s I am now looking forward to leading the firm as it faces the challenges of a "post brexit" commercial environment in Wales. Hutton’s has a team of client focused lawyers who are passionate about what they do and I have nothing but confidence in the firm’s ability to grow and expand its current market presence.
Stuart Hutton, founding Partner of Hutton’s Solicitor’s said:
“Clare and I are delighted that the succession of the business is in a trusted pair of hands. We have every confidence that Tristan will continue the longstanding reputation of the firm for outstanding and cost effective client service, and we wish him every success."
Stuart Hutton and Clare Strowbridge were advised on the sale by Huw Palin of BPU Chartered Accountants and Paul Lowe of Acuity Legal. BPU have acted for Hutton's since it was established in 1986.
Huw Palin, Managing Director of BPU said: “I am extremely pleased to have assisted Stuart and Clare in the sale of their practice and am confident that the Hutton's brand and the quality legal advice that it stands for will continue to flourish under Tristan's management. BPU have advised on a number of similar deals this year which reflects the current flourishing corporate finance market in South Wales.
Paul Lowe, Partner Corporate and Commercial at Acuity Legal said: “It has been a pleasure to work on this deal particularly because the practice has been purchased by an existing staff member meaning that the firm, its culture and values can remain the same and continue to grow from strength to strength.”