Law firm Trowers & Hamlins announces merger to boost regional offering

International law firm Trowers & Hamlins, which has an office in Manchester, is set increase its UK regional offering next month by merging with Devon-based Stones Solicitors.

The firm created by the merger is expected to have an £85m revenue and retain the name Trowers & Hamlins, The Lawyer has reported.

Combined, the two companies will have close to 690 members of staff across six UK offices, which includes Trowers’ North West base on Princess Street in Manchester city centre.

According to The Lawyer, Jennie Gubbins, a senior partner with Trowers, said of the deal: “It positions us to grow our regional presence and reputation in the South West region and to build on our existing real estate offering there, in particular helping us to broaden out our social housing and public sector heritage.

“For the first time we’ll be able to offer corporate and private wealth expertise from a regional base, giving us the opportunity to expand our regional non-public sector practice and better service our clients.”

Stones Solicitors, which operates across two offices in Devon and Exeter, currently has around 90 members of staff and in 2014 posted a turnover of approximately £5m.

Trowers’ head of housing, Sara Bailey, said the decision to merge was part of a regionalisation strategy to strengthen the firm’s real estate profile.

Over the last four years, Trowers has gradually scaled back its operations in the Middle East, closing offices in Jeddah, Riyadh and Cairo, and opening an office in Birmingham in a renewed focus on domestic investment.

In the last financial year, Trowers’ international profit fell from £2.5m to £100k, a drop of 96%, while its net UK profit rose by 7.2% to £19.4m.

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