In 2007 Slater & Gordon managing director Andrew Grech led his firm through an initial public offering on the Australian Securities Exchange, making it the world's first publicly listed law firm. On its first day of trading, the personal injury firm saw its shares rise 40 percent. This July, Slater's share price reached an all-time high of $3.30, triple its initial 2007 trading price of $1 per share. The firm now has a market capitalization of $589 million.
Slater's experience has demonstrated vividly what a multimillion-dollar capital injection can do for a law firm. Since its IPO, the Australian firm has acquired more than 20 local competitors. In 2012 it opened in London by buying a U.K. personal injury firm, and expanded further this year by acquiring three more U.K. rivals. Revenue has grown from $61.7 million in 2006 to $198.8 million in 2011. We couldn't have "expanded in the way that we wanted and needed if not for our listing," says Grech.
