website - www.ilh.com.au
They are purchasing 3 legal firms in W.A. which returned 30% profit last financial year. First ever law firm listing on ASX.
I have outlined below what I think about it.
Haved I missed anything?
1. 30% profit 06 fin year
2. solid return as not dependent upon building a plant or commodity prices etc
3. capital appreciation through further acquisitions in sydney, melbourne and perth) and other states when laws governing ownership changes.
4. director is an experienced judge and a former Federal Government Treasurer with experience as chairman of Elders Rural Services, a founding non-executive chairman of LawCentral, a former board member of St George subsidiary Sealcorp (now Asgard Wealth Solutions).
5. he probably also comes with many great legal and other money people networks....
legal people at firms leave (although there is a share reward scheme to retain employees)
a winner with good prospects in my opinion