We are thrilled to be one of four firms behind the launch of Pi Gateway, a new organisation aimed at helping PI firms in England and Wales make a clean and managed exit from the market.
Pi Gateway will sympathetically assist Pi firms wishing to make a strategic exit from the market. The reason for exit will vary in each scenario but could include retirement, restructuring or simply a desire to leave the PI arena due to increased acquisition costs, lower LASPO fee returns, financial distress due to cash flow problems, recent changes in legislation, regulation and / or lack of professional indemnity insurance.
Pi Gateway has already completed a number of transactions, using our collective experience and expertise, to identify the best law firm partners to take on the existing business’ caseloads and assist in leaving the market in an SRA compliant, well managed and dignified manner.
The advantages of working with the Pi Gateway is that we are lawyers helping lawyers; understanding the process and quite often the pain. Our experience works to minimise risk while maximising value for exiting firms.
We hope that exiting firms or those suffering financial hardship won’t bury their heads in the sand and will pick up the phone and talk to us first maybe avoiding intervention by banks, accountants, liquidators or the SRA. As first point of contact we may be able to avoid firms selling off cheaply at under value, but instead see optimum returns from their active files, whether they are simply leaving the market due to retirement or trying to avoid insolvency. In addition those wishing to dispose of a shrinking PI department in a controlled and orderly manner should also consider contacting us.
To find out more about Pi Gateway visit www.pi-gateway.com or contact 0843 506 8597 for a confidential discussion.