Addleshaw Goddard and Maclay Murray & Spens merger talks collapse
Merger talks between the pair had been set to lead to the latest in a series of Anglo-Scottish mergers
February 16, 2016 at 07:17 AM
2 minute read
The merger talks between Addleshaw Goddard and Maclay Murray & Spens have been called off, Legal Week can reveal.
Legal Week reported in November last year that the pair were in advanced merger discussions, although neither sides partnerships had voted on the deal at that stage.
A merger between the two firms had been set to create a firm with revenue of around £200m. Scottish firm Maclays reported revenue of £43.3m in 2013-14 while Addleshaws posted revenue for 2014-15 of £192.5m.
A spokesperson for Maclays said the firm was not currently in "discussions encompassing the possibility of collaboration of some kind".
He added: "We are resolutely committed to growing the firm, organically; through lateral hires; strategic acquisitions; or mergers. Should any such discussions develop into something more substantial, we would communicate that first to our teams and then our client base and the media."
Maclays has previously been in other merger talks that have failed to reach a deal, including two rounds of discussions with South West England headquartered firm Bond Pearce in 2010 and 2012.
Bond Pearce went on to tie up with Newcastle firm Dickinson Dees in 2012 to create Bond Dickinson.
The merger, if it had gone ahead, would have continued a pattern of Anglo-Scottish mergers that have defined the Scottish legal market in recent years.
CMS Cameron McKenna (CMS UK) and Dundas & Wilson merged in 2014 in a deal which boosted CMS UK's revenue by 37% to £219.7m.
In 2012 Pinsent Masons merged with McGrigors, creating a firm with a revenue of around £280m at the time, Pinsents' revenue has since grown to £362.4m in 2014-15.
Clyde & Co entered the Scottish market in 2015 through a merger with Simpson & Marwick, which took Clydes' total revenue to over £420m. That deal followed the collapse of talks between Simpson & Marwick and Clyde's rival insurance firm Kennedys in 2013.
Addleshaws declined to comment.
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