Leading law firm Peter Lynn and Partners are set to expand their presence across Wales and the South West and boost its turnover by 25 per cent after securing a seven-figure funding package from Lloyds Bank Commercial Banking.
To support the business’ expansion plans, Lloyds Bank Commercial Banking provided a £1.7 million finance package, which will provide the company with the working capital needed to continue to grow organically over the next five years.
The investment follows a significant period of growth for the company, which has increased its client base by 35 per cent over the past three years.
The firm was founded by Peter Lynn in 1999, when he opened the first office in Swansea. Since then the company has grown phenomenally and it now employs 73 members of staff across its seven offices.
The company was also recently named as the preferred legal partner of Swansea City Football Club.
Peter Lynn, senior partner at Peter Lynn and Partners, said: “Over the past three years we’ve experienced a significant period of growth, and have built a reputation for providing an exceptional standard of service to our clients. Over the coming years we want to build on this success and expand our presence across South Wales and beyond”.
Having recently moved the legal firms banking requirements to the commercial team at Lloyds Bank, the first impressions have been extremely positive. “We’ve only just switched to Lloyds Bank, but we’ve been overwhelmed with the standard of service provided by the relationship team. They made the process as simple as possible, and have provided us with the confidence that we need to continue to drive growth over the coming years” said Peter.
Jonathan Richards, relationship manager at Lloyds Bank Commercial Banking, said: “Peter Lynn and Partners is one of the leading law firms in South Wales, and boasts one of the largest teams in the region for company and commercial law, commercial property law and family law. The company is a vital contributor to the local economy, and as result of the expansion it plans on creating 10 new jobs for people in the local area”. We recognise that supporting small businesses is key to helping Britain prosper, and since 2011 we have increased our lending to SMEs by 31 per cent, when the market has contracted by 11 per cent.”