Legal deal talks
Partners at Clyde & Co and BLM to vote on merger
Partners at legal firms Clyde & Co and BLM are close to completing one of the biggest ever mergers in the sector.
The two confirmed today that after months of talks they will vote on creating a combined practice with 4,600 staff, including 3,300 professionals, and a combined turnover of about £735m
Clyde & Co is a global law firm with a focus on five core sectors: insurance, energy, trade & commodities, infrastructure and transport. BLM is an insurance and dispute resolution law firm.
A spokesperson for BLM said the strategic and commercial compatibility of the firms was ‘undeniable’ and that a merger would meet the firm’s ambition to grow and secure its status as a market-leading full service practice.
We believe that a potential combination with Clyde & Co would provide us with the growth needed to develop our business,” she said.
“We are both dominant in risk and insurance and our respective businesses complement each other. Whilst Clyde & Co is a global business, we both have an extremely strong presence in the insurance sector in the UK and Ireland. Clyde & Co also boasts a strong offering in business and advisory services.”
A spokesperson for Clyde & Co said: “BLM is a firm we have long admired and we believe a merger can be formed on the basis of our complementary client rosters and our shared focus on quality.”
For the year ended 31 March 2021, Clyde & Co increased profit before tax by 14% to £162.5m. BLM profits before members’ remuneration, profit shares and tax was up 22% to £11.1m.