CS2 Lawyers

Helphire Group plc, in line with its legal services and claims management growth strategy, entered into a commercial agreement with CS2 Lawyers Ltd and has acquired the CS2 Group of legal services businesses.

CS2 Lawyers Ltd based in Chesterfield, Derbyshire is one of the largest legal claims specialists in the UK; managing over 10,000 uninsured loss recovery (ULR) motor claims per annum. Employing over 200 staff, the CS2 Group of companies consists of Fleet Legal Ltd; providing accident management services to over 60,000 vehicles, E-Claim Ltd; providing before the event legal expense insurance policies to over 100,000 policy holders and Medirep Marketing Ltd; an in-house medical reporting agency which arranges reports for injured victims of accidents whose claims are being handled by CS2 Lawyers Ltd.

Clearwater worked closely with the management team to carefully co-ordinate and deliver a deal which allows them to realise significant cost and revenue synergies. They are now equipped to strengthen their presence as a market leader in motor claims management.

In the year to 31 March 2007, the CS2 Group made £1.85 million profit before interest and tax on a turnover of £8.4 million.

Helphire Group, founded in 1992 now floated on the London Stock Exchange is the market leader in the provision of accident assistance to innocent drivers involved in road accidents.

Jit Singh, legal advisor to the transaction said:

"Clearwater once again impressed us with their commitment to their client, the transaction and coordination of all parties on the deal to ensure a smooth and timely completion. Their sound knowledge of the financial services sector and ability to think outside the box were instrumental to securing a successful result for the CS2 Group.

We looking forward to working with Clearwater again."