Firm securing mandates
Big deals aid 7% rise in global turnover at Pinsent Masons
International law firm Pinsent Masons has today announced a 7% unaudited rise in annual global turnover to £482 million in a year which saw the Scottish practice act in a number of high profile deals. Scottish turnover was an estimated £77m, also a 7% increase on the previous year (£71.6m).
The firm, which employs 560 partners and staff in Glasgow, Edinburgh and Aberdeen, advised on the £1 billion development of 3,000 new homes in Winchburgh in a joint venture and on the £50 million sale of a portfolio of offshore wind farms by Scottish Equity Partners. It also acted in Ithaca Energy’s £2bn acquisition of Chevron’s North Sea oil and gas assets.
Richard Masters, chairman in Scotland and Northern Ireland, said: “It has been a successful year for our Scottish offices as we continue to secure mandates from global clients to advise on some of the most complex and valuable corporate deals which take place in Scotland, in addition to advising Scottish-based businesses with international operations.”
The firm is relocating to 25,000 sq ft of prime office space in Edinburgh’s new Capital Square development which it expects to occupy next autumn.
Internationally, the firm continued to pursue a sustained programme of transformation, opening its eighth international office in four years, expanding its business in areas complementary to legal services and investing in alternative forms of service delivery.
John Cleland, managing partner at Pinsent Masons, said: “The past year has been one of unprecedented change and complexity for our clients. Our partnership is continuing to focus on making the investments that enable us to help clients respond to that trend. We’re continuing the transformation of our business from an expertise-based law firm into a modern, international professional services business with law at its core.
“At the same time, we’re concentrating not just on what we do, but how we do it. Our philosophy is that if we continue to do business in the right way and for the right reasons, financial performance is just one element of success that will flow from that. We want to grow and be successful, but do so in a way that makes a positive impact on our clients, our people and the communities in which we operate.”