Thorneycroft Solicitors has become part of an alternative business structure (ABS) after its newly-formed parent company, TS Group Limited was granted its licence by the Solicitors Regulation Authority.
TS group also controls claims management business Bankstone, full-service accident management company, Claimcare; car hire business United Assistance; and specialist personal injury brands Claimant Law and Cycle Assist.
Managing director Rachel Stow says the flexibility that ABS status provides was a natural development for the firm that has up to now been best known as a motorcycle injury specialist.
“As a law firm we’ve always had one eye on the future and so weren’t caught off guard by the seismic changes in the legal services market,” she said,
She said that the ABS was planning to continue to form strong strategic partnerships and acquire complementary businesses that enabled it to continually innovate and grow. Thorneycroft now receives over 10% of its turnover from its private client and business departments. It also plans to launch a non-legal services offering.
“Continuous innovation is a big driver for me; as a result we have plans to launch a range of non-legal services later this year. I am hugely excited about taking TS Group to even greater success over the coming years,” said Stow.
Thorneycroft has also welcomed Sue Carnwell to its board. With over 15 years’ experience, she was most recently finance and commercial director for legal, consultancy and training company Bibby Consulting Limited.