Clearwater advises on commercial agreement with CS2 Lawyers and sale of the CS2 Group of legal services companies to Helphire Group plc.
Helphire Group plc, in line with its legal services and claims management growth strategy has announced that it has entered into a commercial agreement with CS2 Lawyers Limited and has acquired the CS2 Group of legal services businesses.
Helphire has entered into a long-term commercial arrangement with CS2 Lawyers Limited, which manages uninsured loss recovery (ULR) legal cases, and has acquired the CS2 Group of companies, comprising Fleet Legal Limited, a vehicle fleet accident manager, E-Claim Limited, a provider of legal expenses insurance and Medirep Marketing Limited, a medico-legal reporting agency. Helphire’s total investment in these new operations is £10.7 million (£10 million net of cash balances).
The CS2 Group is based in Chesterfield, Derbyshire and has over 200 employees. CS2 Lawyers handled over 10,000 Uninsured Loss Recovery (ULR) motor claims last year. Fleet Legal Limited provided accident management services to over 60,000 vehicles. E-Claim provides before-the-event legal expense insurance policies to a policyholder base in excess of 100,000. Medirep is an in-house medical reporting agency which arranges reports for injured victims of accidents whose claims are being handled by CS2 Lawyers Limited.
Mark Jackson, chief executive of Helphire Group plc said: “The legal services market is of significant interest to Helphire Group plc and we believe the acquisition of the CS2 Group of legal businesses and the closer links with CS2 Lawyers Limited will further enable us to realise significant cost and revenue synergies and work to strengthen our presence as a market leader in motor claims management. We firmly believe these arrangements represent an excellent business opportunity for both companies.”
Robert Britton, partner with Clearwater added: “This is an excellent result for both parties and we are very pleased to have helped CS2 Group enter the next stage of its development with Helphire Group plc. CS2 is an excellent fit with the Helphire business and should significantly strengthen their position as a market leader in motor claims management.”
Partner Jit Singh and his team at Howes Percival provided legal advice to CS2 Group on the transaction.