Legal Business

LB100 case study: Shepherd and Wedderburn

Scotland’s third-largest firm by revenue, Shepherd and Wedderburn, had largely been thought to have fallen behind Brodies and Burness Paull recently. However, Shepherd has matched the revenue growth of its larger peers over the last five years, up 49%. And after a dip in 2016/17, revenue and profit both returned to growth this year, up 6% and 10% respectively. Revenue now sits at £53.5m and profit £22m, while profit per equity partner (PEP) increased more than 15% to £403,000.

Highlights from the year included advising FanDuel on its proposed merger with Paddy Power Betfair, as well as becoming the first top-100 UK law firm to offer funded litigation in partnership with Burford Capital. Chief executive Stephen Gibb (pictured) says real estate and corporate have been particularly busy, with deal activity flowing through into the start of this financial year: the firm advised fintech company Nucleus Financial Group on its £140m AIM listing in July, for instance.