Merger watch: Hogan Lovells to tie-up with South Africa’s Routledge Modise

Posted on |

Hogan Lovells is to combine with South African law firm Routledge Modise, with the union set to go live on 1 December.

The Johannesburg office will comprise 120 lawyers, including 40 partners, and will focus on corporate, commercial, litigation, mining and employment work, while Routledge Modise is expected to rebrand and relaunch as Hogan Lovells in early 2014.

The top 10 LB100 firm informed its partners of the move today (19 November) and said in a statement that a physical presence in Africa has become increasingly important as the majority of its top 200 clients have operations on the continent. Continue reading “Merger watch: Hogan Lovells to tie-up with South Africa’s Routledge Modise”

At last a City deal for Wragge & Co? Midlands giant aims for £170m tie-up with Lawrence Graham

Posted on |

Wragge & Co at last has the prospect of achieving its long-held dream of securing a substantive City merger, with the Birmingham-bred giant today (18 November) informing its partners of discussions with Lawrence Graham.

The proposed talks could create a £170m legal practice, with over 700 lawyers and a strong City presence.

Continue reading “At last a City deal for Wragge & Co? Midlands giant aims for £170m tie-up with Lawrence Graham”

PI consolidation – Irwin Mitchell acquires Manchester’s McCool Patterson

Posted on |

After becoming the first multiple-licensed alternative business structure (ABS) last August Irwin Mitchell has acquired personal injury (PI) firm McCool Patterson Hemsi Solicitors (MPH), its fourth acquisition in 12 months as the PI market continues to consolidate.

MPH – whose five directors and 24 lawyers and support staff will all join the UK top 25 law firm – will operate as an ABS and subsidiary of Irwin Mitchell from its offices in Manchester and Newmarket. Continue reading “PI consolidation – Irwin Mitchell acquires Manchester’s McCool Patterson”

Updated: Crunch time – Pannone partners face imminent vote on Slater & Gordon acquisition

Posted on |

Pannone’s ongoing discussions with Australian-listed Slater & Gordon (S&G) over the sale of its consumer services and personal injury (PI) practice are coming to a head, with an equity partnership vote originally scheduled for next Tuesday (12 November) now put back until 19 November.

Should the Manchester-based firm’s partnership approve the business sale agreement – which requires a 75% vote – the firm’s board will now meet on 25 November to exchange agreements. Until today (8 November) that date had been set at Friday 15 November.

To date the discussions have been hampered by disagreements over how to house the corporate team, which is expected to be hived off and continue to practice under the Pannone name. There are also questions over whether the 241-lawyer firm’s white label service Affinity and Connect2Law network fits with S&G’s model. Continue reading “Updated: Crunch time – Pannone partners face imminent vote on Slater & Gordon acquisition”

Administrators give behind-the-scenes insight into Manches takeover by Penningtons

Posted on |

Penningtons’ takeover of troubled Manches last month says almost as much about the state of the legal market as it does of the firms involved, although, Manches’ administrators say, there are clear lessons to be learned.

On 15 October, 265 Manches employees, including 46 partners officially moved to Penningtons in a pre-pack deal brokered by PwC.

Manches had been earmarked for a merger by the LB100 this summer, after its revenues dropped by 13% to £26.3m – a drop of 11 places to 93 – and its profits per equity partner slid by 43% to £134,000.

Continue reading “Administrators give behind-the-scenes insight into Manches takeover by Penningtons”

Pannone presses for S&G deal in wake of failed Cobbetts bid

Posted on |

Having previously pursued a merger with the now defunct Cobbetts (as it turned out, a lucky reprieve), Pannone’s current discussions with Australian-listed Slater & Gordon (S&G) are seeing talks over which parts of the Manchester-based firm’s diverse business will be included in any deal.

With the firm effectively split into four limbs: its commercial arm; the private client, clinical negligence and personal injury business; its white label service Affinity; and Connect2Law network, discussions are ongoing as to whether the latter two divisions fit with S&G’s model.

Continue reading “Pannone presses for S&G deal in wake of failed Cobbetts bid”

It’s big, it’s here – King & Wood Mallesons SJ Berwin launches and unveils global management team

Posted on |

It’s big, spanning continents, oceans, hugely disparate cultures and a complex governance and profit-sharing model and it’s going live today (1 November) – welcome to King & Wood Mallesons SJ Berwin.

The firm has now confirmed who will be taking on the task of managing the newly-merged giant after announcing the line-up of global practice heads and its new management committee. (For lawyers who spent their summer in a cave, the firm is the combination of top 25 UK practice SJ Berwin and Asia-Pacific giant King & Wood Mallesons).

Continue reading “It’s big, it’s here – King & Wood Mallesons SJ Berwin launches and unveils global management team”

Consolidation update – Dentons and McKenna chiefs back tie-up with November partner vote to follow

Posted on |

Dentons looks set to secure another substantive merger after management of the firm and US suitor McKenna Long & Aldridge this week approved proposals for its mooted union, clearing the way for partners to vote on the tie-up in November.

With both having confirmed the merger discussions in late September, the impending union looks set to create a firm with more than 3,100 lawyers around the world and push revenues through £1bn.

Continue reading “Consolidation update – Dentons and McKenna chiefs back tie-up with November partner vote to follow”

Those US mergers keep coming – Orrick closes in on deal with Pillsbury to forge top 10 giant

Posted on |

One of the most prolific merger suitors of recent years – Orrick Herrington & Sutcliffe – is at it again with the top 30 US practice close to securing a merger with the 600-lawyer practice Pillsbury Winthrop Shaw Pittman.

The discussions, which were confirmed on Friday (25 October), could see Orrick sign a letter of intent as early as this week to recommend a combination with Pillsbury to its partners. A deal would create a 1,800-lawyer practice with revenues of around $1.4bn, putting it in the top 15 law firms in the world by fee income.

Continue reading “Those US mergers keep coming – Orrick closes in on deal with Pillsbury to forge top 10 giant”

Slater & Gordon takes over Manchester PI firm as Pannone vote looms

Posted on |

ASX-listed firm Slater & Gordon (S&G) continues to make inroads into the UK’s personal injury (PI) market having confirmed today (24 October) it has acquired Manchester-based clinical negligence and PI practice John Pickering & Partners.

S&G, which generates an annual revenue of £27.7m, made the announcement at its annual general meeting in Australia yesterday, but made no mention of recent reports that it is in talks to acquire Manchester-based Pannone’s consumer services business. Continue reading “Slater & Gordon takes over Manchester PI firm as Pannone vote looms”