Law firm buys competitor from administrators

LAW firm Linder Myers has bought the business and assets of fellow city centre firm Rowlands Field Cunningham from administrators.

Sarah Bell and Steve Muncaster from the Manchester office of insolvency firm MCR were appointed as joint administrators of Rowlands Field Cunningham yesterday.

Linder Myers has said the deal will create a £16m-turnover business with almost 300 staff, including 43 partners. It will take on all 80 former Rowlands Field Cunningham staff currently operating out of offices on York St in the city centre and in Swinton.

The last filed accounts for the 12-partner Rowlands Field Cunningham show that the firm had a turnover of £4.8m in the year to April 30, 2010, but no profit was declared.

Rowlands was established in 1887 and only merged with Field Cunningham just over a year ago – a deal which was described at the time by managing partner Jon Andrews as “a very good fit”. However, the firm is understood to have since suffered with cashflow, which eventually led to it appointing administrators.

Bernard Seymour, managing partner of Linder Myers, who will head the enlarged practice, said he expects to achieve turnover of £16m in the next financial year and £20m within 18 months.

Earlier this year, Linder Myers bought an eight storey, 47,500 sq ft building at 55 Spring Gardens for its new headquarters building. It paid £8.1m.

Mr Seymour added that Linder Myers would continue to seek further mergers in Manchester and was in discussions with a number of potential targets.

“This is our biggest merger to date. It will give us greater critical mass and expertise, and will enable us to penetrate better in some markets,” he said.