ARROWS, a law firm which has grown to become one of the Czech market leaders over the last three years, has introduced consultancy giant ETL Global as its strategic investor. The German group plans to build on its global acquisition success and further develop its business presence in the Czech Republic. The parties decided not to disclose the amount of the transaction.
ETL has acquired ARROWS to accelerate its growth in the domains of consulting, finance and regulation, e-commerce, M&A, technologies and healthcare. It is the joint ambition of ARROWS and ETL to reach a turnover of over CZK 1 billion within a 5-year horizon, for which ETL will provide the necessary funding for the development of consulting and technology projects.
“We are happy that we have been able to partner with ARROWS on our way to achieving our goals. We believe it will help us become leaders on the SME market in the Czech Republic even faster,” says Dr. Christian Gorny, CEO and board member of ETL Global.
“ARROWS has 7 partners, each representing a certain specialization. This is something that perfectly fits into our understanding of how a business with growth potential should operate. Their task will be to find new partners on the Czech market and help the group achieve its objectives,” says Robert Jurka, one of ETL’s representatives for the Czech Republic.
In the Czech Republic, ETL wants to build on the successes of the existing group members and support the growth of these and new businesses. At the same time, it plans to reuse the success stories from the Netherlands, UK and Spain, where it has been able to make the right choice of partners with the potential of becoming the future market leaders. This is now going to be the role of the Czech law firm ARROWS.
“We have put together all the necessary ingredients to be prosperous – experienced partners, a quality team and a strong foreign partner who will provide us with know-how, technologies and clients,” says Jáchym Petřík, one of the founders and currently the CEO of ARROWS.
With the support of its strong German investor, ARROWS has the ambition to become one of the leading consultants in the region and stand out as the first choice for entrepreneurs and capital owners in the field of law, taxes and consulting. To make sure that these ambitions are fulfilled, all seven existing partners remain in their positions.
“We want to continue with the law-firm’s digitization, with the ambition of establishing a true legal-tech. We will focus on acquiring promising law firms or attorneys and their teams across the Czech Republic, and offer them the opportunity to join a strong brand and enjoy the support of a highly professional team,” says Jakub Dohnal, another founding partner of ARROWS.
The law firm also plans to increase the number of partners, both internal and external, to depersonalize the brand’s perception and become an incubator for promising talents who share the same access to regulated consulting services, technologies and investments. The aim is to establish the company as a strong advisory and investment hub.
The ETL Group is represented by more than 870 firms in Germany. It is the market leader in tax consultancy and among the top five audit and tax advisory companies in Germany. ETL also operates 200 professional firms in seven European countries. Specialising in tax consultancy, audit, legal advisory, management consultancy and IT, the group generated a turnover of over 1 billion euros in 2020. ETL also operates an international consulting network, ETL Global, in more than 50 countries worldwide.
ARROWS is a law firm offering services in domains of legal advice, accounting and taxes, property transactions and other activities, with a history of more than a decade. It focuses on transactions, public procurement and on corporate, employment and tax law. With more than 60 lawyers, Arrows is one of the leading law firms in the Czech Republic. In addition, it liaises with member partners abroad and provides legal services in more than 70 countries. Since 2015, Arrows has been regularly shortlisted for the Law Firm of the Year.