Releasing its half year results AIM-listed Gordon Dadds said it completed the acquisition of Ince UK to create Ince Gordon Dadds.
Gordon Dadds is paying an estimated £27.3m in cash over four years and a grant of options over up to 3m new shares for Ince UK.
The deal announced in late October but does not include the international offices of Ince & Co. “The international offices of Ince International are not being acquired but have agreed to enter into new network arrangements and will continue to trade as Ince & Co,” Gordon Dadds said.
Commenting on the completion of the deal Adrian Biles, chief executive of Gordon Dadds said: “We are very pleased to have completed the Ince deal. It is a landmark in our development and I’m delighted to welcome our new colleagues. It increases our capacity hugely and we expect it to boost revenue significantly in the coming years.
“We will foster the close working relationships under the Ince Gordon Dadds International Network, ensuring that the enlarged business and the affiliate network will offer our clients breadth of service both by practice area and by geography.”