The basicsCompany name: Minster Law Group
What they do: New-style law firm
The Boss: Adrian Christmas and Stuart Ramsay
The financialsLatest turnover (?,000): 104,113
Four-year compound sales growth (%): 31
Latest Ebitda (?,000): 6,228
The detailsMinster Law has had a good year, pushing through the ?100m-turnover barrier for the first time. The law firm, established in York in 1997, is Britain?s largest road traffic accident personal injury practice, and handles in excess of 60,000 personal injury claims a year, recovering more than ?100m in compensation on behalf of clients. Thanks to its portfolio of contracts with high street brands, around two million policyholders would have their claims directed at the firm in the event of an accident, estimates CEO Stuart Ramsay. Minster is unique in that although it employs 800 staff, only 31 are qualified lawyers (with a further 198 fee earners), allowing the firm to deliver to clients without involving expensive solicitors. Adrian Christmas, the company?s chairman, remains Minster?s sole shareholder. Fee earners in the firm are incentivised through bonuses paid as a percentage of fees rendered. Turnover stands at ?104.1m with pre-tax profits of ?6.2m.
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