LLP latest: Mayer Brown sees revenue dip by 9.5% as Pinsents gains £20m from McGrigors merger

LLP latest: Mayer Brown sees revenue dip by 9.5% as Pinsents gains £20m from McGrigors merger

Mayer Brown has released its LLP results for the year ending 2012/13 for the UK business, reporting a 9.5% loss in revenues while profits are down by 5.5%.

The top 30 Global100 firm’s UK results filed with Companies House on 3 February show its turnover dropped from £105.9m in 2012 to £95.8m last year. Profits also dropped from £22m to £20.8m over the same period, while its operating profits fell from just under £31m in 2012 to £29.1m in 2013.

The firm’s net debt however, also fell to £25.6m in 2013 from nearly £34m in the previous year. Continue reading “LLP latest: Mayer Brown sees revenue dip by 9.5% as Pinsents gains £20m from McGrigors merger”

Consolidation is the word of the day across Scotland’s firms

Consolidation is the word of the day across Scotland’s firms

The Scottish market is awash with merger rumours. Perhaps the imminent tie-up between McGrigors and Pinsent Masons has kick-started the recent developments but Scottish managing partners now have consolidation high up the agenda.

The marriage between McGrigors and Pinsents, which is expected to go live in May, will create a national heavyweight with combined revenues of roughly £282m and over 1,500 lawyers, pushing the new venture comfortably into the top 15 of the LB100.

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Pinsents and McGrigors tie-up gets rubber-stamped

Pinsent Masons and McGrigors confirmed in early February that partners had voted in favour of the two firms merging. The new firm will operate from 1 May as one unified partnership under the Pinsent Masons brand.

Management says that the combination will likely see the creation of a near £300m, 1,500 lawyer business spanning 15 offices, seven of which are outside of the UK.

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Eversheds boosts construction practice with McGrigors team

Eversheds has bolstered its Manchester offering with the hire of an eight-lawyer contentious construction team from McGrigors just months before the Scottish firm is due to tie the knot with Pinsent Masons.

McGrigors’ Manchester chief David Moss and construction disputes partner Paul Giles joined Eversheds in March, along with six additional lawyers. The team provides combined expertise in the energy and utilities sectors.

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