Listed law firm ILH has raised A$1.1m from existing and new investors in a recent capital raising. Managing director Graeme Fowler said that the funds would be used for additional acquisitions and to provide general working capital. There will also be a share purchase plan for existing shareholders.

ILH grew revenues by 59% in FY2009 and Fowler said that the company's annualised operating revenues were presently tracking at around A$21m, in comparison to  A$16.95m in FY2009. ILH has a unique strategy of acquiring firms in the private client, mid-market and SME space and continuing to operate those firms under their existing branding. Fowler told ALB that he foreshadowed that up to 20 firms could join ILH in the next ten years. Rival listed firm Slater & Gordon has also been active on the acquisition front and recently made its first acquisition for 2010 in a small Victorian based firm, Stewart & Noble.