Thames Valley: Three top law firms - Morgan Cole, Blake Lapthorn and Boyes Turner - in 'merger talks'
Morgan Cole, Blake Lapthorn and Boyes Turner are reported today to be in talks over a three-way merger which would create a new top 40 UK firm with revenues approaching £100 million.
The merger would create a firm with offices across the south, Wales and Midlands, with 450 lawyers, according to a report in the respected legal website, The Lawyer
The news, which has apparently been confirmed by Morgan Cole, follows the decision of the Cardiff-headquartered firm to offload its claims group earlier this month
The statement from the firm said: ”Morgan Cole is considering a number of strategic options in this dynamic legal environment. The firm is holding discussions with Blake Lapthorn and Boyes Turner about what a merger between the three firms might achieve for clients and staff. There are a number of potential sector, service, geographical and operational benefits that could be delivered but there is much work to be done before any final decision can be reached and discussions are at an early stage.
“No further comment will be made at this time.”
Blake Lapthorn managing partner Walter Cha was quoted as saying: “In common with all firms, Blake Lapthorn has been looking to seek advantage in a competitive legal market. A merger is one of the many options we have been exploring and Morgan Cole and Boyes Turner – both excellent firms – have been among those we have talked to. Discussions have not progressed beyond first stages at this juncture and it is too early to say whether talks will continue with either of the firms or indeed others. We will not be commenting further until and unless there is anything to put before our partners and staff.”
The largest of the three firms with £45.6m turnover, Blake Lapthorn has expanded through merger before. In 2006 Blake Lapthorn Linnell merged with Hampshire firm White & Bowker and then IP firm Tarlo Lyons. Morgan Cole had revenue of £33.7m last year. Reading-based Boyes Turner, the smallest of the three firms, achieved revenue of £14.7m in 2012/13.
