Edinburgh-based law firm Balfour+Manson has expanded in Aberdeen through the takeover of a local business.
Balfour+Manson has agreed to acquire Alastair Hart & Co from its eponymous owner, who has been running the firm for around 30 years.
Details of the transaction were not disclosed.
The deal will allow Balfour+Manson to take on the business and client base serviced by Alastair Hart & Co from offices in Aberdeen and Portlethen.
Alastair Hart & Co offers services in areas ranging from matrimonial law and will-writing to company law and estate agency.
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Scott Foster, chief operating officer of Balfour+Manson, described Alastair Hart & Co as a well-known and respected North-east legal business.
“This is a terrific addition to our business and very much in line with Balfour+Manson’s growth plans,” he said of the deal.
Mr Hart was the only employee of the business when the deal was concluded.
Balfour+Manson said Mr Hart will join the merged practice as a consultant for a short period. The merger of the two firms is due to be completed on June 30.
Balfour+Manson has 22 partners, including five in Aberdeen. Founded in 1888, the firm acts for individuals in areas such as personal injury and for businesses.
Balfour+Manson expanded into Aberdeen in 2004 through the purchase of a book of personal injury business developed by Burnside Kemp Fraser.
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The same year it bought GW Tait & Co of Edinburgh.
Scotland’s legal and accounting sectors have experienced waves of consolidation in recent years. Some firms have used acquisitions to help them build scale and to extend their geographic reach amid increasing competition from bigger fish.
Firms have been required to make hefty investment in IT systems and in compliance functions in response to the regulatory changes affecting the profession.
Partners in small firms may look to sell them when they near retirement age.
Scottish law firm Gilson Gray acquired Bowmans of Dundee in February and MHD of Edinburgh the following month.
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Accountancy firm EQ bought Douglas Home & Co in April under a plan to triple turnover in the next five years.
In February the Edinburgh-based Geoghans chartered accountancy business announced it was merging with MHA, the UK member firm in the Baker Tilly network.
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