Law firms in merger talks to create top 50 firm
Law firms Browne Jacobson and Beale & Company have revealed they are in talks over a potential merger.
The combined firm would have offices in eight city locations and be over 1,000 strong with around 137 partners.
Over the last five years Browne Jacobson has seen revenues grow nationally by 80%, while the Manchester office, which opened in February 2012, has seen 25% growth for 2015/16, according to the firm.
The combined turnover for 2016/17 is expected to be around £82m, which would rank the merged firm in the UK’s top 50 by income.
In a joint statement Iain Blatherwick, managing partner at Browne Jacobson, and Antony Smith, senior partner at Beale & Company, said: “We have been in discussions for some time and can now confirm that we have agreed heads of terms.
“Our practice areas are highly complementary and we believe there is a strong strategic and cultural fit.
“A combined firm would offer clear strategic benefits and deliver attractive long term benefits for all our clients and people by enhancing the breadth and depth of our legal services in the UK, Ireland and internationally.
“Over the coming months, further discussions will take place to agree the steps for bringing both firms together in a merger. No further comment will be made by either firm until those discussions have concluded.”