AIIC Group (“AIIC”), the holding company behind leading independent law firm Taylor Rose MW, has been named as the fastest growing legal and accounting services in the UK according to the prestigious FT 1000 list of Europe’s fastest-growing companies by the Financial Times (“FT”).
In the Legal & Accounting Services sector, the company is the second fastest-growing business in Europe and fastest-growing in the UK, according to the report. Ranked at 392 overall, AIIC joins notable UK companies, including the prop-tech firm Plentific and the fintech company Marshmallow in the rankings.
The company recorded a Compound Annual Growth Rate of 71 per cent between 2018 and 2021.
AIIC says its growth continues to be driven in particular by its consultancy division, with over 40 consultant lawyers at present.
According to PWC, the UK legal services market grew by 12 per cent from £28bn to 32bn between 2020 and 2021 and is expected to rise to £39bn by 2026. Revenue amongst the legal consultants, however, has increased at over double the rate, with a two-year CAGR of 26 per cent.
In a 2021 report by Arden Partners, the investment bank said the consultancy model will become a dominant model for high street and mid-market law firms. Taylor Rose MW’s consultant solicitor platform is one of the largest in the UK, and number one in the property sector and in consumer law. Complementing its consultant division, the firm operates a more traditional practice with over 500 employees.
AIIC has also invested in prop-tech platform SlothMove; KingsleyWood, a consultant-based law firm; FDR law; and RCP, a legal ‘think tank’. AIIC Group is a provider of technology-enabled consumer legal services and aims to reshape the future of legal services by making a step change with brighter thinking and people-focused solutions, combined with scalability and innovation.
Adrian Jaggard, CEO of the AIIC Group said: “Our integrated growth strategy, where the development of our traditional practice through M&A continues alongside the fast growth of the consultancy division, provides a healthy combination and clear strategy to grow our market share. We are delighted to be recognised by the FT 1000 and look forward to our continued growth as we aim to reshape the future of legal services.”