Leading law firms Irwin Mitchell and Thomas Eggar today announce that they will merge to create a £250m dynamic legal services business, a top-five private wealth legal team and a platform to significantly grow their combined business legal services operation.
Irwin Mitchell Group Chief Executive Andrew Tucker said the deal would be a catalyst for growth for both businesses and demonstrates a continued determination to seize opportunities arising from continued consolidation in the legal sector.
Thomas Eggar Managing Partner Vicky Brackett – who will join the Irwin Mitchell LLP Executive Board – said the complementary cultural and service fit between the two businesses and shared approach to client care would broaden the offering to clients, including sports law and planning.
The key complementary benefits of the merger include:
• See turnover in the combined business team rise to more than £80m. Thomas Eggar’s expertise in the retail, financial services, technology and media, and manufacturing sectors will complement Irwin Mitchell’s specialism in corporate, employment, real estate, commercial litigation, banking and intellectual property law.
• Combine the strength and experience of the private wealth teams from Irwin Mitchell, Thomas Eggar and Berkeley Law – acquired by Irwin Mitchell in November 2014 – to create a top-five private client offering , with plans for significant growth.
• Continue both firms’ geographic expansion, adding Thomas Eggar’s six offices in London and the south-east to the 11 national offices that carry the Irwin Mitchell name, plus additional offices for Berkeley Law in Mayfair.
Contracts have already been exchanged and the merger is expected to formally complete in December 2015. The merger will see all c450 Thomas Eggar employees, including 67 partners, transfer to Irwin Mitchell after a TUPE process beginning today. Thomas Eggar will adopt the Irwin Mitchell brand in the first half of 2016.
Andrew Tucker said:
“This is about two great businesses coming together to share one great future.
“A merger with one of the leading business and private client law firms in the south-east will transform our Group. It combines the strengths of two highly-respected businesses to create a dynamic, client-focused firm that will give us further scale, critical mass and a competitive advantage in our target markets to become the legal brand of choice”.
“This deal will significantly add to the value and diversification of our business and act as a catalyst for further growth. It will add significant additional scale to our Business Legal Services division, which, if it were a standalone business, would now be a top 50 legal firm in its own right.
“This is the latest step in our strategic expansion plan but we see still further opportunities arising as the market continues to consolidate. Our continued growth has given us a strong financial base to drive even greater investment in our Group.”
Group Chief Executive & Partner
Vicky Brackett said:
“This is a really exciting merger of two dynamic firms that is great news for our clients and our staff. Bringing our two firms together will make us only stronger and gives the strength in numbers and depth of experience to offer clients a service that is second to none. It highlights how Irwin Mitchell recognises the success of Thomas Eggar and Thomas Eggar recognises the strength of Irwin Mitchell. This is the expertise merger”.
“Clients tell us that what they value most are long-lasting relationships with innovative firms that can work with them side by side providing trustworthy advice. Our people, their expertise and ability to forge long-term relationships with clients are our greatest asset and this merger provides us with a terrific opportunity to offer clients across the country a wider range of services. For every client that comes to us, whether they are an international organisation, a small business or private client, our combined teams will have the people with the right skills and expertise to meet their needs.”