Bircham Dyson Bell and Pitmans set to vote on £50m merger
The firms could combine to form a UK top 60 firm
September 12, 2018 at 05:15 AM
2 minute read
City law firm Bircham Dyson Bell (BDB) is in merger talks with Thames Valley outfit Pitmans, with a partnership vote on a combination set to take place later this month.
If successful, a merger would see the two firms form an 80-partner outfit with more than 400 staff.
Reading-headquartered Pitmans, which also has offices in London and Southampton, specialises in pensions, real estate and dispute resolution, as well as corporate, commercial and private client law.
BDB's key practice areas consist of real estate, private wealth, infrastructure and regeneration, litigation, corporate, commercial, and employment.
BDB recently announced revenue of £33.7m for the 2017-18 financial year, and net profits of £10.2m. It currently has 41 partners and 235 additional staff, and last year expanded out of the City with the acquisition of King & Wood Mallesons' Cambridge office.
Pitmans posted revenue of £18.6m last year, while its headcount stands at 39 partners and 169 staff. If the merger goes ahead, the combined firm could see revenues of about £52m and profits of £15m, which could position it in the UK top 60.
Last year BDB brought in Pennington Manches corporate partner James Stephen, and this month appointed 11 new legal directors to its key growth sectors, which include government and infrastructure, private wealth and real estate. It has also acted for clients such as private equity firm Harwood Capital, as well as County Broadband on securing an investment from Aviva Investors.
The firms are expected to make further announcements as discussions progress, with the partnership vote set to take place on 27 September.
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