Acquisitive legal and professional services group Gordon Dadds has completed the acquisition of Metcalfes Solicitors LLP for a total basic consideration of £2m, payable in cash over a five-year period.
Additional consideration will be payable if the fees generated exceed £20m over the five years following completion.
The acquisition will be funded from existing cash resources.
Gordon Dadds said the acquisition demonstrated its ability to grow its existing business through opportunistic, attractively valued deals and will provide significant cross-selling opportunities across divisions.
The company said the board expected that the acquisition would be significantly earnings enhancing in the first full year, to the end of March 2019.
Gordon Dadds said: 'Metcalfes is a long-established firm of general practice solicitors based in Bristol.
'Its largest areas of activity are clinical negligence, property, non-volume personal injury, private client and family and dispute resolution work from a generally high net worth individual and corporate client base.'