Law firm reveals US merger plans
LAW firm Eversheds has confirmed it is in talks to merge with US law firm Sutherland which would create a £600m turnover legal business.
Proposals have been presented to the partners of Sutherland Asbill & Brennan and Eversheds, which has offices in Leeds, Birmingham, Nottingham and Manchester. Eversheds has additional offices in London (its headquarters) Ipswich, Cambridge and Newcastle.
The new entity would be called Eversheds Sutherland, with a global board and equal representation from each firm. Eversheds is the larger firm in terms of turnover, posting revenues of £405m last year, whilst the US firm turned over £196.9m.
Globally the combined firm would rank 39th in turnover and in the UK this would push Eversheds into the top 10.
Formal votes would be completed by year end. The firms said that they have a “shared vision” of providing global services for clients.
The combined firm would gave more than 2,300 lawyers with a global footprint of 61 offices in 29 countries.
Eversheds has intended to merge with a US firm for some time, holding talks with Milwaukee firm Foley & Lardner last year. Sutherland opened a UK office in 2014 after it merged with a small London firm Arbis.
Eversheds chief executive, Bryan Hughes, said: “Eversheds has an exceptionally strong reputation for international client service and our strategic ambition is to provide a high quality offering and a single legal solution to clients wherever they are required globally.
“Joining forces with Sutherland will give each firm’s clients a global platform and we will be discussing the proposal with our Partners positively in the coming weeks.”
Sutherland managing partner, Mark Wasserman, commented: “As our clients continue to pursue many of the most important and complex business opportunities around the world, our attorneys continue to seek ways to enhance the firm’s long standing tradition of providing clients with the highest quality service and innovative solutions.
“We look forward to discussions over the next few weeks about the opportunities this transaction will bring to our clients.”
This comes hot on the heels of announcements by DWF that it will merge with Belfast firm C&H Jefferson and Addleshaw Goddard who are acquiring Gateley’s Scottish operations HJB.
