Liverpool law firm MSB Solicitors breaks through the £10m revenue barrier for the first time as it declares its ambition to become a national operator. Tony McDonough reports

Liverpool law firm MSB Solicitors has declared its ambition to become a national operator as its accounts show a rise in revenues and pre-tax profits.

Just filed on Companies House, MSB’s accounts show revenues of £10.2m for the 12 months to February 29, 2024. This is up from £9.4m in the previous year and the first time the practice has broken through the £10m barrier.

Pre-tax profits for the period hit £1.7m, 13% higher than reported in 2023. Total dividends for the year totalled £707,392. The accounts show 190 employees. However, in April the Law Society Gazette reported this had risen to 220.

Based at No 4 St Paul’s Square in Liverpool city centre, MSB also has local offices in Wavertree in south Liverpool in Widnes. However, in the last couple of years the firm has also expanded into Manchester, Chester and Birmingham.

Writing in the annual report, managing partner Emma Carey said her intention was to “raise the profile and reputation of all of our teams. In particular to establish MSB as a national firm.”

On regional expansion, she added: “There are massive opportunities in Cheshire and Manchester for us to expand our services.

“We need to look at how we can optimise our search engine so that people searching within those areas come through and that all of our services are promoted from these offices.”

Emma, a family law specialist, became managing partner of MSB in March 2018, taking over from Paul Bibby. He founded the firm along with Sean Sexton in 1988. When Emma took the helm the firm’s annual revenues were around the £5m mark.

For its 2024/25 fiscal year MSB has set a revenue target of around £12m and it also intends to close its Wavertree office. Emma also said: “In 2025 we will look at various options with regards to office space for the firm as a whole.”

She also wants the firm to secure a Legal Aid contract for crime work in Manchester, Chester and Birmingham.

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There is a clear recruitment strategy at MSB. It recruits trainees in January and February and paralegals each May. Also in May each year it looks for new associates and senior associates and in May every year it looks to recruit partners.

MSB currently has 19 partners. One partner, Paula Mansfield, has left the firm and Gemma Stringer will join the family team as a partner in December 2024.

“Our reputation in Liverpool is exceptional,” said Emma. “We need to ensure that reputation is built upon and expands across the North West and naturally.”