Melbourne lawyers Slater and Gordon made legal and corporate history on Monday as the first law firm in the world to list on a stock exchange.
As the personal injury specialists listed on the Australian stock exchange, managing director Andrew Grech revealed the firm already had an appetite to grow bigger.
Mr Grech told reporters in Melbourne that mergers and acquisitions were “a substantial area for potential growth”.
“We think there is a compelling case for us to be successful in consolidating the personal injuries market to begin with,” he said.
Slater and Gordon have already swallowed five smaller practices – worth between $1 million and $4 million – over the last two years as they expand interstate from their Victorian base.
Mr Grech said he hoped to double or triple the firm’s current client base of 20,000 although he did not set a timeframe.
Shares in Slater & Gordon opened at a significant premium when they began trading on Monday at $1.32 compared to their issue price of $1.00.
Mr Grech said Monday’s event was “as far as we know … the first listing of a law firm in the world”.