Hammonds in merger talks with US firm
LAW firm Hammonds is in merger talks with US fellow industry heavyweight Squire, Sanders & Dempsey to create a top 50 global law firm.
The two firms are keen to expand both the breadth of their services and geographic reach.
If the merger does progress, the tie-up will create a legal group with 37 offices located in 17 countries and approximately 1,300 lawyers. Revenues would top £405m.
The possible merger is yet further evidence of the continuining consolidation within the legal sector. Yesterday saw the announcement that Staffordshire-based Ansons Solictors had acquired a rival firm in Lichfield, while only last week Birmingham-based Shakespeare Putsman continued its expansion through a merger with Berryman of Nottingham.
Hammonds has offices in locations including Leeds, Birmingham, Manchester and London as well as in Asia and Europe.
Squire Sanders’ chairman, James J Maiwurm, and Hammonds’ managing partner, Peter Crossley, said that preliminary discussions between the two firms had been positive.
Mr Maiwurm said: “Whilst we are still at an early stage, our discussions to date indicate that such a merger would appeal strongly to clients that want high-quality legal services from lawyers who have global experience and who understand and respect client demand for value.
“Squire Sanders is committed to being a global firm. We need a more complete presence in the UK and Western Europe to complement our strength in Central and Eastern Europe.
“Hammonds has a well-developed platform that would complement our presence in Europe, would add to our capabilities in Asia and would enhance Squire Sanders’ broad-based Latin America resources.”
Mr Crossley said Hammonds’ long-term strategy was to target growth in the UK and Asia, expansion of the firm’s footprint in Continental Europe and the establishment of closer ties with the United States, where Hammonds has a growing client base.
Mr Crossley said: “Operating as ‘One Firm’ around the world is a foundation of the Hammonds culture which is shared by Squire Sanders. There is an obvious cultural fit between the two firms.”
Mr Maiwurm added: “We know that Hammonds shares the commitment to excellence that we demand of ourselves. But Hammonds, unlike many firms, also shares our understanding that excellence can and should combine with cost-effective, creative legal service.”
It is expected that partners in both firms will vote on the merger before the end of the year.
Hammonds’ history dates back to 1887 when Albert Victor Hammond qualified as a solicitor and set up in practice on his own in Bradford in the same year. The practice expanded steadily over the years and in 1988 merged with another Bradford law firm, Last Suddards.
Further mergers and acquisitions have since occurred further boosting the firm’s growth.
Squire, Sanders & Dempsey was founded in 1890 and has lawyers in 32 offices and 15 countries around the world.
