Thomas Eggar, the fast-growing West Sussex headquartered law firm, is to move into the Thames Valley market with the acquisition of Penningtons’ office in Newbury.
Thomas Eggar has ambitious plans to grow into the south east’s biggest law firm with offices across the region.
The firm has already announced its intention to tackle the Southampton market – and now it has made a move into the highly competitive M4 Corridor.
Its merger with Penningtons’ Newbury office comes after that office decided against following a strategic review that Penningtons plans throughout the firm.
The office thus demerged from Penningtons on December 1 and “merged” with Thomas Eggar.
Lesley Lintott, Penningtons chief executive, said: "Penningtons has recently resolved to move away from an office based structure following a strategic review of how Penningtons delivers its legal services to clients. The Newbury partners felt the needs of the firm's practice in Newbury did not sit well with the results of the strategic review and wished to refocus that practice. While we will be sorry to lose our colleagues in Newbury, in the circumstances, we have amicably agreed terms for a demerger of their office. We wish them every success in the future.
“The rest of the firm is committed to the implementation of our strategic review which involves all legal services now falling into one of three new firmwide divisions: Business Services, Commercial Property and Private Individuals. The financial performance of the firm in the financial year to date following the creation of this new divisional structure has been very encouraging and shows the value of the changes we have made."
Thomas Eggar managing partner Tony Edwards added: "The merger with the Newbury office gives us a strong foundation to achieve our vision of being a leading law firm in the south. There are already strong synergies between the Newbury office and the existing Thomas Eggar LLP offices and we are looking to work together to open a new office in Southampton in the spring of 2008, bringing the total number of offices to six."
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