Turnover at Travers Smith rose by 13% for the year ended 30 June 2014, taking revenue at the firm towards the £100m mark.

Alongside the increase in turnover, from £86.2m to £97.2m, profit per full equity partner (PEP) reached £882,000, up 12% on the previous financial year.

In a statement managing partner Andrew Lilley described 2013/14 as "the firm's most successful year to date", singling out private equity and corporate finance practices as particularly strong performers.

In January, Travers won a prize position on the UK advisory panel of US private equity house Apollo.

Since then, the firm has reshuffled its private equity practice, with Phil Sanderson, who had been head of Travers' private equity team since 2008, making way for Paul Dolman earlier this month.

The firm has recently landed roles on a number of high profile IPOs, including for clothing chain Fat Face and Pets at Home Group. It has also been appointed to carry out a review into claims that the Bank of England officials were aware that manipulation of foreign exchange (forex) market rates was taking place in 2006, but did not take action to stop it.