While single service retainers appear unlikely to become a broad fixture of the legal market, Eversheds continues to push on with the model having sealed a multimillion-pound deal with valve manufacturer and Tyco spin-off Pentair Flow Control to take over all its routine legal work in the EMEA region.
In a two-year, fixed-fee contract, the UK top 10 law firm has secured the right to carry out all routine litigation, certain intellectual property (IP) and commercial work and some premium work including major litigation, M&A and antitrust work. Pentair merged with Tyco Flow Controls after the three-way split of Tyco in October last year.
