Irwin Mitchell’s takeover of Thomas Eggar will mean that only half of the firm’s turnover will now be made up of PI work.
The merger sees Irwin Mitchell become the 11th largest legal business in the UK, with 15 locations and nearly 300 partners. It will also transform the firm’s business structure so that legal services to businesses and high net worth private client work will account for 50% of the firm’s income. 80% of the personal injury business is now made up of high-value, complex cases.
Irwin Mitchell group chief executive Andrew Tucker said that the deal with Thomas Eggar marked the start of a “new era”.
“Our combined business legal services and high net worth private client divisions will become ever more important,” he said.
“The merger also significantly strengthens our presence in London and the south and means that for the first time more than half our turnover will come from the southern half of the UK.”
Vicky Brackett, managing partner at Thomas Eggar, said that the merger was a catalyst for change that would create a business that was among the “best in the industry”.
“We have significantly increased our presence across a large part of the country and that presents significant opportunities to offer a wider range of services to a larger number of clients in a more diverse range of sectors,” she said.
Irwin Mitchell has completed seven M&A deals since being granted an ABS licence in 2012. Its last acquisition was of private wealth firm Berkeley Law in 2014.
PIC: L-R: Andrew Tucker and Vicky Brackett