Gordon Dadds buys White & Black solicitors for £2.9m

Law firm Gordon Dadds Group said it had bought specialist technology solicitors, White & Black Ltd for £2.9m plus amounts realised from £0.52m of debtors and work-in-progress.

White & Black has net cash of approximately £1m and the acquisition will be funded from existing cash resources, Dadds said.

“White & Black's specialist technology skills and international client base will enhance the Group's growing corporate and dispute resolution practices and provide many cross-selling opportunities,” the company said in a statement.

“The board expects that the acquisition will be significantly earnings enhancing for the first full year, to 31 March 2019.”

White & Black specialises in technology and corporate law and related intellectual property and dispute aspects. Dadds said it has a “substantial” international client base, with a particularly strong presence in the Far East, comprising mainly corporate, private equity and investment clients.

For the year ended 31 October 2017, White & Black achieved unaudited earnings before interest, tax, depreciation and amortisation of £0.85m and a profit before tax of £0.66m on fee income of £2.59m.

White & Black will continue to operate as a separate business from London and Oxfordshire under its established name, Dadds said.