Clyde & Co's merger with Barlow Lyde & Gilbert has propelled the firm to the largest hike in revenue among the UK top 50 this year, with turnover jumping 35.4%.

After joining forces with Barlows in November 2011, the firm saw fee income hit £287m for 2011-12, up from £212m last year. Turnover on a like-for-like basis at Clydes without any contribution from Barlows grew 17% to £248m.

The growth in revenue has seen the firm jump from 17th place to 12th in the UK top 50 this year, marking its highest-ever position in the rankings.

However, following the merger and significant investments throughout the year, including opening or moving to 10 new offices, average profit per equity partner (PEP) at the insurance giant has fallen from £605,000 to £550,000.

News of Clydes' talks with Barlows was broken by Legal Week in June 2011, with the pair voting in favour of the deal by the end of last July. The tie-up went live on 1 November under the Clyde & Co banner, with about 270 partners, 1,250 fee earners and 2,250 total staff.

But the expansive firm did not stop there, and by the time the merger between Barlows and Clydes went live, the firm had already sealed another tie-up – this time with Canada's Nicholl Paskell-Mede.

During the last financial year, the firm also established local alliances in Zimbabwe and Singapore with Scanlen & Holderness and Clasis LLC respectively. This March also saw Clydes make an entrance into the Mongolian legal market via an association with local law firm Khan Lex Advocates.

Clydes has also made 15 additional lateral hires throughout the year. Despite the rapid expansion, it has shown no sign of slowing down, with plans to open in Australia in September this year and Libya next month.

Looking at current momentum, the firm looks set to continue its rise further up the rankings over the next 12-month period.

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