In a significant development within the legal sector, Herbert Smith Freehills has announced a groundbreaking merger with a leading US firm, cementing its position among the top 20 firms worldwide.
Herbert Smith Freehills, a global law firm headquartered in London, has entered into a merger with New York-based firm Kramer Levin. The merger aims to expand their global reach and enhance their areas of expertise. Herbert Smith Freehills reported an impressive 10% increase in annual revenue to £1.3 billion as of April 2024, with profits rising by 14.5% to £445 million. In contrast, Kramer Levin, with a smaller scale, recorded a turnover of $435 million (£338 million). The merger will result in a combined workforce of over 2,700 lawyers, including around 640 partners across 25 offices worldwide.
Rebecca Maslen-Stannage, the chair and senior partner of Herbert Smith Freehills, described the merger as “transformational,” emphasising the strategic advantage it provides in the US market. Howard T Spilko, co-managing partner of Kramer Levin, echoed this sentiment, highlighting the enhanced competitive edge the merger offers through increased geographical presence and sector expertise.
Meanwhile, Manchester-based national firm HF has broadened its legal services by acquiring Quigg Golden. This acquisition facilitates HF’s entry into construction and procurement law and integrates Quigg Golden’s innovative practices. The founders, Edward Quigg and James Golden, along with their team, join HF in a bid to leverage its significant investment in legal innovation.
In another development, Hunters Law, a well-established firm with historical roots, has acquired Peachey & Co, boosting its corporate and commercial capabilities. Hunters’ chief finance officer, Arif Kamal, noted that the acquisition aligns with the firm’s long-term vision, enhancing its market presence. David Wilson, formerly senior partner at Peachey & Co, has taken on the role of head of Hunters’ commercial team.
Liverpool’s Black Norman law firm is undergoing a management buyout supported by a six-figure loan from River Capital. This financial assistance allows Richard Entwistle and Shoab Panwar to purchase shares from founding partner Howard Norman, facilitating a smooth transition and future growth. The funding is part of River Capital’s broader initiative to support SMEs in the North-West.
In Leeds, Legal Studio has acquired GC Business Lawyers, expanding its corporate offerings. Ian McCann, Legal Studio’s chief executive, confirmed ambitious growth plans through further acquisitions, indicating a growing demand for high-quality corporate legal services.
Suffolk’s Gotelee is transitioning to a more flexible work model, prompted by its recent association with Mezzle Group. This shift involves reducing office space while maintaining its operations by integrating with Right Legal Group for wills management, following a significant expansion in services.
These developments within the legal sector signify a dynamic period of growth and consolidation. The mergers and acquisitions not only reflect strategic positioning in the global market but also highlight the ongoing evolution of legal services to meet broader client needs. With firms increasingly seeking innovation and expanded expertise, the landscape of legal practices is set for a transformative phase.
