The first law firm in New Zealand owned by a public-listed entity has emerged in a $66 million deal to buy the country’s leading IP law practice, AJ Park.
The deal involves the purchase of the long-established law firm by the ASX-listed IPH Ltd and is set for completion at the end of October.
IPH is a major IP law group with a market capitalisation of $AUD1 billion and employs 400 people in Australia, Singapore, Malaysia, China, Indonesia, Thailand and Hong Kong.
AJ Park employs 205 people and operating from offices in Auckland, Wellington and Sydney. The firm has a substantial local client base servicing clients ranging from large multinational corporations and universities to start-up companies.
Commenting on the acquisition, IPH’s Managing Director, David Griffith (left) said “we are delighted to have reached an agreement to acquire AJ Park and extend a warm welcome to the partners and staff. The acquisition of AJ Park represents a further step in IPH’s strategy to expand its presence in secondary IP markets and, most importantly, supports IPH’s growth in Asia through extension of our Asian
service offering to AJ Park’s local and international clients”.
“The addition of such a high quality IP business will further strengthen IPH’s position as a leading group in the secondary IP markets”.
AJ Park has included many senior lawyers, one of the most prominent in recent times being former Court of Appeal President, the late Sir Thomas Gault.