£250m Irwin Mitchell merger crosses the finishing line
A MERGER between Irwin Mitchell and Thomas Eggar, creating a £250m legal business, has been completed.
The firms announced the deal at the end of November, and will see 130 year-old southern law firm Thomas Eggar become part of the Irwin Mitchell group, and IM chief executive Andrew Tucker said this was only the beginning of the company’s acquisition trail.
The companies said it would “transform” the business, as it focuses on corporate and high-net worth private client work. They said this would account for half the combined group’s turnover, with the personal injury business making up the remainder.
Turnover is set to rise to £80m, following the earlier acquisition of Berkeley Law in November 2014.
All full equity members and fixed share members of Thomas Eggar are joining IM on the same status, and the firm’s six London offices will come under the Irwin Mitchell banner.
Mr Tucker of Irwin Mitchell said: “This merger is truly transformational for our business and marks the start of a new era.
“The merger also significantly strengthens our presence in London and the south and means that for the first time more than half our turnover will come from the southern half of the UK*.
“We have completed seven M&A deals since being granted an ABS licence in 2012. Our last was the acquisition of private wealth firm Berkeley Law in 2014 and we have a pipeline of further potential opportunities that we are working our way through.
“However, we will complete mergers or acquisitions only if they make sense, and will complete deals only if they add significant value to our firm.”
Vicky Brackett, managing partner at Thomas Eggar, said: “This is an exciting time for all of us at Irwin Mitchell and Thomas Eggar.
“This merger is a catalyst for change and combining the strengths of both our firms will create a business that is among the best in the industry.
“We have significantly increased our presence across a large part of the country and that presents significant opportunities to offer a wider range of services to a larger number of clients in a more diverse range of sectors.”
