Rosenblatt to become fourth UK law firm to go public

Rosenblatt Solicitors is set to float on London’s Alternative Investment Market (AIM) next month, becoming the fourth UK law firm to go public.

In a statement, the firm said the listing, which is expected to take place on 8 May, would allow the the firm to “better align remuneration for employees with the overall performance of the firm” and help it to attract and retain talent.

Rosenblatt, which focuses on litigation and contentious restructuring work, is a single-office London practice led by senior partner Ian Rosenblatt, who founded the firm in 1989. According to its website, it has 19 partners.

The firm’s float will follow those of Keystone Law, Gordon Dadds and Gateley, all of which also listed on AIM.

Rosenblatt CEO Nicola Foulston commented: “Our decision to seek a listing on AIM is an exciting step in the development of Rosenblatt. The funding will support the growth of the firm, building on our position as one of the top three dispute resolution firms in the capital, and allow us to take advantage of the disruption in the UK legal marketplace.

“Dispute resolution is a growing market, with London set to remain the biggest international centre for this work. There has already been strong interest from investors who recognise both the quality of our offer to clients and the strong commercial management of the firm. We are focused on improving margins and profitability, compared to traditional legal partnerships run by lawyers, which concentrate on revenue and often lack commercial expertise.

“Importantly, the listing will allow us to better align remuneration for employees with the overall performance of the firm. By being able to offer a broader range of equity participation, it will help us to attract and retain talent at all levels.”

Rosenblatt is being advised by broker Cenkos Securities on the listing.

Recent high-profile work for Rosenblatt has included advising Northern & Shell on the £127m sale of its newspaper business to Trinity Mirror. The firm’s relationship with Northern & Shell’s owner, Richard Desmond, dates back to 1983, and in 2010 the firm also advised on the newspaper proprietor on his €125m purchase of Channel Five.

UK top 50 law firm Gateley became the first UK practice to list on AIM in 2015, followed by Gordon Dadds last summer and Keystone Law last November, following