With offices in Liverpool and London law firm Gregory Abrams Davidson says demand for its commercial services is rising and it aims to double its revenues to £8m. Tony McDonough reports
Liverpool law firm Gregory Abrams Davidson (GAD) has unveiled an expansion plan to double its turnover to £8m by 2025.
GAD aims to grow its commercial division both in London and in Liverpool. The practice currently turns over £4m a year and employs 45 people across five offices, three in Liverpool and two in London.
It says it has seen increased demand for its commercial services over the past 18-months. The management team is now planning further expansion through organic growth, lateral hires, and acquisitions.
Demand for its commercial services is being fuelled by a rise in merger and acquisition work, specialist social housing advisory services, and a sharp increase in companies needing advice about developing, acquiring, and selling e-commerce operations.
Brexit also influenced the commercial division’s revenue growth, with its specialist US legal team witnessing strong demand. Jonathan Abrams, director of business services, said: “In 2025, we’ll celebrate our 45th year in operation and to mark the occasion we want to see the firm hitting the £8m turnover mark.
“While 2020 paused our initial growth plans, demand for our commercial services remained strong with specific service lines seeing decent growth. These factors helped us decide to rebrand the business division as GAD Commercial in 2021.
“With Brexit, many clients large or small have been looking to start and expand operations in the US, so our US legal services team were, and still are, in strong demand.”
Mr Abrams added that COVID-19 lockdowns had also prompted an increase in take-up for commercial, legal and compliance guidance to e-commerce business owners which has also fuelled additional growth.
“As people continually reflect and adapt to changes in work-life balance,” he said. “Many entrepreneurs are viewing the low barriers to entry of e-commerce and distance selling as achievable business opportunities and we are forecasting that this area will continue to grow significantly.”
In early 2020, the firm also recruited Mark Alexander from international firm BLM Law to head up its property team and grow the department following retirement of former partner Barry Davidson.
Mr Abrams said: “Mark’s arrival helped drive fee income which saw the team advise on commercial property projects including a number of significant developments with a gross developed value more than £50m over the past 12 months.”