We are delighted to announce that the AIIC Group, has been named as the fastest growing legal and accounting services group in the UK, and second-fastest in Europe, according to the prestigious FT 1000 list of Europe’s fastest-growing companies by the Financial Times (“FT”).
AIIC has been ranked 392 overall, joining notable UK companies, including the prop-tech firm Plentific and the fintech company Marshmallow in the rankings.
AIIC recorded a Compound Annual Growth Rate of 71 per cent between 2018 and 2021 and is now the 25th largest company across the whole of Cambridgeshire.
The company’s growth continues to be driven in particular by Taylor Rose MW’s consultancy division, with over 500 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.
The firm operates an integrated growth strategy where the development of the traditional practice through M&A alongside the growth of the consultancy division has a mutually beneficial effect – supporting referrals, talent attraction and retention, marketing and business development capability, attraction of bigger contracts and increased revenues.
Adrian Jaggard, CEO of the AIIC Group said: “Our integrated growth strategy provides a healthy combination and clear strategy to grow our market share. We are delighted to be recognised by the FT 1000 for our growth to date, which I am highly confident will continue as we aim to reshape the future of legal services with the skill, commitment and collaboration of our amazing team.”