New firm will put domestic expansion ahead of international growth when tie-up goes live next year

Bond Dickinson, the firm formed by the merger of Bond Pearce and Dickinson Dees, is set to target growth in London and Aberdeen when its union goes live on 1 May next year. 

The new firm, which will sit within the UK top 40 with combined revenues of £95m, is putting domestic growth ahead of international expansion for the short term. 

Dickinson Dees managing partner Jonathan Blair (pictured) will lead the firm alongside Bond Pearce chairman Nick Page, with both holding the same titles at the combined firm. John Marshall of Dickinson Dees and Victor Tettmar of Bond Pearce will complete the firm's senior management team, as vice chair and executive partner respectively.

Blair told Legal Week the new firm intends to significantly ramp up its London presence, where it will jointly have around 12-15 partners. With both firms' leases up in March, it is looking for 20,000-25,000 sq ft of new space, with expansion planned in practice areas such as finance, real estate, corporate, oil and gas, insurance and wealth management. 

Blair said: "We'll be investing in London – as well as seconding partners to the office, we'll also be looking to make lateral hires and are currently involved in a number of discussions."

Aberdeen, where Bond Pearce currently has a small office, has also been earmarked for growth with Bond Dickinson keen to make its presence felt in the local oil and gas market. 

"It's a booming city so we'll definitely be looking to grow the office there," said Blair. "Aberdeen is the place to be for oil and gas and we want to be competitive so you can expect to see us investing in that area."

International expansion will be considered further down the line, with oil and gas again expected to be the firm's main focus.

The combined firm, which will be fully financially integrated, will have 136 partners across eight UK locations, including around 70 equity partners. All partners will sit on the same modified lockstep. 

A senior partner at a rival national firm said: "It's an interesting tie-up between two respectable practices but they have a long way to go before they make themselves as profitable as those around them as their profits per equity partner aren't particularly high."

Confirmation of the merger, which required a minimum of 75% partner approval, comes after news of the talks first emerged in September. 

Bond Pearce previously discussed a merger with Scots firm Maclay Murray & Spens, with the talks breaking down in March.

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Bond Dickinson – in numbers

Firm                    Revenue  PEP          Partners (equity) Lawyers

Dickinson Dees   £46.1m         £235,000  62 (40)                  223

Bond Pearce    £46.5m         £235,000  74 (29)                  280