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Dealwatch: Latham and Bakers handle agriculture merger as Weil and Kirkland land fintech financing

Briefcase

Big deals in agriculture, social care and fintech have stood out in the market in recent days, with leading US and UK-headquartered firms scoring lead mandates.

The irrigation sector saw consolidation with the merger of Temasek-owned Rivulis and publicly-listed Jain Irrigation in a cash and stock transaction. The combined entity will be a global force in the irrigation space with $750m in revenues and coverage across 35 countries. Continue reading “Dealwatch: Latham and Bakers handle agriculture merger as Weil and Kirkland land fintech financing”

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Sponsored briefing: Q&A: James Scicluna, co-managing partner, WH Partners

Given the challenges created by Covid-19, how is this affecting your firm post-pandemic?

We had already rolled out remote working capability for all our staff before Covid, so we were able to deal with our workload remotely, without huge efforts. It is now unthinkable for us that our staff would not be fully mobile and flexible in their work arrangements. Although we are still big believers in face-to-face teamwork where geographically possible, staff can choose to work from home a few days a week. Continue reading “Sponsored briefing: Q&A: James Scicluna, co-managing partner, WH Partners”

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US expansion drives record revenue at Kennedys as Weightmans’ profits soar 25%

After a year of ambitious international growth, Kennedys has posted record revenue of £286m, up 8% on last year, despite sluggish 1.4% UK growth.

In the last year, the firm added 18 lateral partner hires, and made up 22 new partners globally. In characteristically expansive mode, Kennedys also opened three new offices globally as well as forging three new associations in Turkey, Bolivia and Ecuador. Continue reading “US expansion drives record revenue at Kennedys as Weightmans’ profits soar 25%”

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International round-up: Ashurst pursues American dream with Texas opening as Eversheds expands in Bulgaria

In a week of globetrotting action for firms, Ashurst has solidified its American ambitions by opening a new office in Texas.

In May, Legal Business reported that Ashurst was seeking to add depth in the US as a ‘strategic priority’, with chief executive Paul Jenkins stating the firm needed ‘to do more in the US over time.’ Jenkins said that it was in the firm’s core sectors, which included infrastructure, financial institutions-related work, the digital economy, real estate, energy transition and funds, that Ashurst could be doing more stateside. Continue reading “International round-up: Ashurst pursues American dream with Texas opening as Eversheds expands in Bulgaria”

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‘Holding yourself accountable’: Squire Patton Boggs commits to net zero by 2035 with new ESG strategy

Squire Patton Boggs (SPB) has become the latest firm to wade into the thorny environmental, social and governance debate, unveiling a UK ESG strategy with a pledge to hit net zero carbon emissions by 2035.

The Cleveland-headquartered firm, which has UK offices in London, Leeds, Manchester and Birmingham, is targeting a 15% reduction year on year, which it hopes will see emissions fall by 70% by the end of the decade. Continue reading “‘Holding yourself accountable’: Squire Patton Boggs commits to net zero by 2035 with new ESG strategy”

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Revolving Doors: Paul Hastings adds two as McDermott boosts energy expertise

City of London

US firms have dominated transactional recruitment this week while UK-headquartered peers have focused on bolstering their disputes capabilities.

Paul Hastings continues its auspicious London growth trajectory, which saw its City revenue surge 41% in 2021/22, with a dual partner hire. The firm announced the addition of Jason Brooks to its structured credit team this week following the arrival of private equity partner Tom Cartwright last week. Continue reading “Revolving Doors: Paul Hastings adds two as McDermott boosts energy expertise”

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‘A fantastic achievement’: Boodle Hatfield marks 300-year anniversary with revenue growth

In its tercentenary year, Legal Business 100 firm Boodle Hatfield has announced revenues of £30.7m for 2021/22, up 4% from £29.4m the previous year.

The latest figures continue the firm’s recent upward trajectory. Since 2016, the private wealth and real estate focused firm has recorded an average annual revenue increase of 5.5% and a 14% average increase in profit. In total, this equates to a 38% jump in revenue and a 113% increase in profit. Continue reading “‘A fantastic achievement’: Boodle Hatfield marks 300-year anniversary with revenue growth”

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Dealwatch: Elite firms act on major private credit deal as playmakers pounce on TigerRisk acquisition

Neel Sachdev

High-profile deals in the insurance, real estate and software sectors have been keeping advisers busy this week, as leading US and UK firms advised on high-profile mandates.

The trend of increasingly ambitious private credit deals broke new ground in recent days, as a host of City firms advised on the refinancing of The Access Group. The transaction, speculated to value in the region of £3.2bn, is the largest European private debt financing in history as well as the region’s largest ever unitranche facility. Continue reading “Dealwatch: Elite firms act on major private credit deal as playmakers pounce on TigerRisk acquisition”

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Revolving Doors: Cooley brings in City healthcare partner as White & Case adds three globally

M&A, tech, healthcare and IP were the focus of lateral recruitment this week, as firms continue to invest in areas faring strongly against the current economic uncertainty.

Cooley has recruited healthcare and life sciences partner Frances Stocks Allen (pictured) into its London office. Continue reading “Revolving Doors: Cooley brings in City healthcare partner as White & Case adds three globally”

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Osborne Clarke adds over €60m to top line amid buoyant financials

Osborne Clarke (OC) has joined the slew of firms reporting robust financials, today (13 June) unveiling a 19% increase in overall turnover from €341m to €407m.

And in an endorsement of the UK market, domestic revenues jumped 20% from £166.4m to £199.1m. Profit per equity partner (PEP) also saw a notable increase, climbing 11% from £714,000 to £796,000. Continue reading “Osborne Clarke adds over €60m to top line amid buoyant financials”

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Revolving Doors: Proskauer and Weil add to City restructuring ranks as Linklaters makes real estate finance hire

Restructuring recruitment was the trend this week as both Weil and Proskauer strengthened the benches of their City insolvency groups.

Weil has brought in restructuring specialist Lois Deasey at the expense of Akin Gump. Well-regarded in the market, Deasey’s experience includes multi-jurisdictional restructuring transactions and insolvencies, as well as distressed and special situations. Continue reading “Revolving Doors: Proskauer and Weil add to City restructuring ranks as Linklaters makes real estate finance hire”

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‘Venerable as Cravath’: Wall Street stalwart breaks with tradition to invest in Washington DC

Cravath, Swaine & Moore has announced plans to open an office in Washington DC having hired three partners from US regulatory bodies.

The move is a bold one by the Wall Street stalwart, known for its traditionally conservative approach. The new Washington office will become just the third in the firm’s global network, adding to the New York headquarters established in 1819, and the London outpost added in 1973. Continue reading “‘Venerable as Cravath’: Wall Street stalwart breaks with tradition to invest in Washington DC”

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Revolving Doors: Latham loses energy partner to Milbank as Global 100 firms take partners from each other

Latham & Watkins has lost energy and infrastructure partner Matthew Brown to rival Global 100 firm, Milbank.

Brown, who will join the projects, energy and infrastructure finance team at his new firm, has over two decades’ experience in the sector, particularly in energy transition work. Continue reading “Revolving Doors: Latham loses energy partner to Milbank as Global 100 firms take partners from each other”

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A class act: Skadden and the industry mourn death of M&A icon Scott Simpson

Skadden’s Scott Simpson, one of the most influential M&A lawyers of his generation, has died suddenly at the age of 65, the firm announced today (30 May).

The news will be a huge blow for Skadden and the industry at large, marking the loss of the firm’s co-head of global transactions and one of the most pioneering deal lawyers ever to operate in the Square Mile.

Continue reading “A class act: Skadden and the industry mourn death of M&A icon Scott Simpson”

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BLM salaried partners forced to re-apply for roles as Clyde merger looms

Clyde & Co

Salaried partners at BLM will have to re-apply for their positions once the firm’s merger with Clyde & Co goes live on 1 July.

Subject to a consultation, the salaried partners at BLM will be automatically transferred to Clyde with the title of legal director, and then given three options. Aside from remaining a director, they can apply to become a salaried partner (this option is only open to the casualty insurance practice) or a full equity partner at the merged firm. Continue reading “BLM salaried partners forced to re-apply for roles as Clyde merger looms”

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Defensive manoeuvres

What are the biggest challenges facing GCs from a cyber risk perspective right now?
There are two primary risks. It’s quite clear from recent guidance from the Information Commissioner’s Office (ICO) and other organisations that ransomware is prevalent. Therefore, businesses should be preparing their playbook and their response process, so that they have them ready for when any attack might happen. Indications are that the ICO and other regulators are going to be tougher in relation to cyber incidents; whereas before they may have regarded the attacked organisation as a victim, now, because cybercrime is so prevalent, they’re saying that businesses need to be ready. Some recent ICO decisions have not been favourable to victim organisations, so it’s important for GCs to be ready. Continue reading “Defensive manoeuvres”

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Cyber risk – is your organisation cyber-ready?

Cyber risk is a major threat to all businesses, irrespective of size, brand or industry. Over recent years, and particularly during the Covid-19 pandemic, the threat of a cyber-attack has increased significantly. There is a growing prevalence of ransomware being deployed across all business types and sectors. With the increased regulation of data on a global basis, and a focus by industry regulators on protecting data, a cyber-attack can and does have a very significant impact on business, including: immediate operational impact, substantial management time being diverted to deal with the situation, loss of business, reputational damage, the risk of multiple regulatory investigations and fines. Further, an entitlement to compensation for data subjects affected by a breach of legislation has led to increased risk of litigation in this area. Continue reading “Cyber risk – is your organisation cyber-ready?”

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A state of flux

For personal injury (PI) practitioners, dynamism is one of the features which makes this such a fulfilling field to work in. The work follows a constant ebb and flow of patterns and trends – from the boom and wane of asbestos-related cases, to the rapid spike in noise-induced hearing loss claims, to the recent resurgence of interest in vicarious liability. The world of PI often acts as a microcosm of broader market and societal changes, mapping developments and drawing out issues. It’s no surprise, then, that the pervasive and rapid changes inflicted on our daily lives over the last few years have been mirrored, magnified and mulled over in the personal injury arena, and the fallout is of primary concern to in-house legal teams, particularly in the insurance sector. Continue reading “A state of flux”