A Tyneside law firm is poised for growth following a management buyout.
McDaniels Law was established in Newcastle in 2005 by Niall and Rozanna Head-Rapson and has since expanded into the Northern Centre in Gateshead, as well as having an office in Cumbria. The business specialises in intellectual property law, acting on behalf of clients across the UK and internationally, and is the only Chambers ‘Band 1’ rated intellectual property practice in the North East.
Managing director Kelly Hudson, who had been at McDaniels Law since August 2008, has bought the practice for an undisclosed sum. Newcastle based RSM UK has advised the law practice on the deal.
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Ms Hudson, along with the management team and all existing employees, will continue to run the firm’s existing operations under a newly created company called MDL Holdings Limited. The buyout will support the firm’s long-term growth ambitions.
Kelly Hudson, managing director at MDL Holdings Limited, said: ‘We are looking towards future progression and building on the excellent reputation the firm already has in the intellectual property sector as well as future growth of the firm. Both RSM and Sintons provided great assistance in seeing the buyout over the line and we are looking forward to a bright future for the firm.”
RSM’s tax teams in Newcastle advised on the deal, which was led by tax partner Richard Urron, with support from director Andy Graham and manager Owen Wheeler. Emma Pern, partner at Sintons LLP, provided legal advice.
Rich Urron, tax partner at RSM, said: ‘We are delighted to have supported Kelly and the wider management team at McDaniels Law on this buyout deal. The firm is a well-respected specialist in the intellectual property sector and we are proud to have supported a local business on a deal which sees succession continuity – enabling them to realise their growth plans. It is an exciting time for the business, and we look forward to seeing how it develops in the coming years under Kelly’s leadership.”
