A niche London legal practice styled as the only UK firm to focus on public service delivery has announced it is looking for investors after becoming an alternative business structure (ABS).
TPP Law Limited, based in Bankside, central London, focuses on public-private partnership and government projects, targeting smaller schemes for which large firms’ fees were prohibitive. It also works with charities and social enterprises.
Founded around a decade ago, it has converted to ABS status because it has a non-lawyer on its board.
Founder Mark Johnson said: ‘Although we remain the same legal entity, adopting this format will provide us maximum flexibility for the future development of our successful public services practice in a very challenging market.
‘In particular, it will help in addressing the twin challenges of raising additional working capital for expansion through attracting outside investment and in securing market share through collaboration.’
Fareeda Jaleel, founder of FRJ Business and Marketing Solutions, said TPP were an example of a forward-thinking law firm with its eye firmly on future income and profit.
‘In some law firms senior partners can be blinded by their day-to-day business and take their eyes of the ball when it comes to planning for the future,’ she said.
‘In today’s competitive market, law firms need to have a real understanding of where their business is going and give proper consideration to their succession planning and general roadmap to ensure their future success.’