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AIIC Acquire Stake in Taylor Rose Australia
As part of an ongoing joint venture, UK based AIIC Group has completed acquisition of a 15 per cent stake in Taylor Rose Australia, which has tripled its annualised value over 18 months.
Grace Robbie
Editor's note: An earlier version of this story incorrectly noted that GTC Legal accquired 15 per cent of Taylor Rose Australia with AIIC. This has now been updated.
AIIC Group, the parent company behind leading UK law firm Taylor Rose, and Australian firm GTC Legal Group Holdings, (GTC) the parent company of Taylor Rose Australia, finalised the $2.2 million deal on Friday last week after the two company's close involvement since April 2023.
The acquisition follows the launch of the joint venture in April 2023, which was aimed at expanding and introducing AIIC’s legal consultancy model to the Australian market.
The venture involved a collaboration between AIIC and GTC, combining AIIC’s expertise as one of the UK’s largest consultant lawyer networks with GTC’s deep understanding of the local market and its strong client acquisition capabilities.
Since its launch in the Australian market, Taylor Rose Australia has achieved impressive growth, tripling its annual revenues from approximately $6 million to $20 million in just 18 months.
This expansion is further reflected in the growth of its legal consultant base, which has risen from 70 to 170 consultants, with the firm continuing to expand rapidly as new consultants join at a rate of 5 to 10 per month.
Adrian Jaggard, CEO of AIIC Group, reflected on the achievements of the past 18 months, noting how the legal consultancy model, once unfamiliar in Australia, has now established itself as a resounding success.
“This investment cements a very successful relationship over the past 18 months. Unlike in the UK, the legal consultancy model was largely unknown in Australia when we embarked on this partnership, but we now have a resoundingly successful proof of concept,” Jaggard said.
“We envisage making further investments and increasing our stake in Taylor Rose Australian in future to further build scale in a fast-growing market, in addition to further integrating Taylor Rose across both countries.”
James Stevens, CEO of GTC Legal Group, has expressed confidence that the legal consultancy model pioneered by Taylor Rose in the UK will significantly benefit Australian clients.
He said: “One of the advantages of the legal consultancy model is that personal services legal matters can be efficiently allocated to lawyers who are deeply invested in delivering outcomes for their clients as they are essentially self-employed consultants operating from a central service platform, brand and management infrastructure”.
Stevens explained how the consultancy model, which has been “operating in the UK for about a decade and now accounts for one-third of personal services legal matters in that country”, has proven highly successful, and he anticipates that this approach will yield similar results in Australia.
He also shared how Taylor Rose Australia has successfully leveraged the insights gained from the UK branch over the past decade to accelerate its growth in the local market.
“We can learn from those UK experiences as we grow the model here in Australia. The centralised platform from the UK has also been key to how quickly we have been able to scale the business here in Australia.
“This has been complemented by our Taylor Rose Australia’s own systems, some of which have now been adopted by Taylor Rose in the UK, including our world-leading practice management software,” Stevens said.
Under the consultancy model, Stevens discussed, Taylor Rose Australia’s consultants are “essentially self-employed lawyers who have complete control around the work they do, when they do it, and where they work from” and “retain an average of 70 per cent of their billings”.
