Rosenblatt appoints broker Cenkos Securities as it looks to become the fourth English firm to float
City law firm Rosenblatt has engaged broker Cenkos Securities as it looks to become the fourth English law firm to go public.
City A.M. revealed earlier this month that the firm was considering a London initial public offering (IPO), something which now looks increasingly likely following the appointment of Cenkos.
Read more: Exclusive: City law firm Rosenblatt mulling a London IPO
If the firm does go public it will join Gateley, Gordon Dadds and Keystone as the only listed English law firms.
According to one source the firm is aiming to use some of the money raised via its IPO to fund litigation cases, reducing the need to rely on external litigation funders.
Rosenblatt has previously received litigation funding from private equity firm Doorway Capital.
In 2009 the firm’s founder and senior partner Ian Rosenblatt tried to float litigation fund Alvaro on London’s junior market, but was unsuccessful, falling short of the £50m target.
Rosenblatt appointed former Brands Hatch chief Nicola Foulston as its first CEO in September 2016.
Foulston floated motor sport business Brands Hatch on the London Stock Exchange in 1996, selling it in 1999 for over $195m (£140m) to US marketing giant Interpublic.
in 1996 Foulston won the prestigious Veuve Clicquot business woman of the year award, despite having not yet turned 30.
Read more: Will the number of listed law firms double over the next 12 months?
Rosenblatt, which was founded in 1986, had a reported revenue of £16m in 2017 and advises clients on areas such as corporate, disputes and finance.
Recent matters for the firm include advising long-time client Richard Desmond on his sale of newspaper group Northern & Shell to Trinity Mirror for £127m.
The group publishes the Daily Star, Daily Express, Sunday Express, and OK! Magazine.
Other famous clients the firm has acted for include former Sun editor Kelvin Mackenzie and former Football League chairman Keith Harris.
Senior partner Ian Rosenblatt, who is well-known as a patron of the arts, was appointed OBE in 2016 for services to music.
Read more: Gateley gets blue chip backing for first UK law firm IPO
Gateley was the first English law firm to go public in 2015 when it raised £30m on London’s junior market.
Last year West End firm Gordon Dadds and formerly virtual law firm Keystone joined it on the public markets raising £20 and £15m respectively.
Rosenblatt and Cenkos declined to comment.