Plexus bought out by Axiom Ince

Insurance focused defence law firm Plexus has been acquired out of administration by Axiom Ince Ltd.

Headquartered in Leeds, Plexus specialises in the handling and litigation of insurance claims. It operates via six offices across England as Plexus Legal LLP, and from its Scottish base in Edinburgh as Plexus North. Its administration followed issues arising from its 2020 and 2021 accounts leading to overstated profits and a cash requirement, which combined with a business downturn due in part to Covid-19 led it to seek financial assistance.

The Axiom deal safeguards 540 jobs without the need for any redundancies, and adds to the 359 qualified lawyers and 442 other staff already under the Axiom Ince Ltd umbrella. That company is the combined legal entity of Axiom DWFM and Ince & Co after the former acquired the latter out of administration in May. 

Pragnesh Modhwadia, Axiom Ince Ltd’s global CEO, commented: "We are excited to have the Plexus family join our fast-growing legal services business. This acquisition cements our commitment to further growth whilst safeguarding jobs and looking after client interests in increasingly turbulent financial and legal markets.

"We look forward to welcoming our new Plexus colleagues and working closely with them. We would also like to thank the [administrator] team at Interpath Advisory for their stellar work in delivering this complex transaction as quickly as they have."