£739k profit share for Pinsent Masons lawyers
Partners at law firm Pinsent Masons enjoyed a 16% hike in their share of the firm’s profits to £739,000 from £636,000 last year.
The firm, which employs 570 lawyers and support staff in Aberdeen, Edinburgh and Glasgow among 3,500 globally, posted a 6% rise in revenue to £531.1m.
Among the key deals its legal teams advised on was Springfield Properties’ £46m acquisition of Mactaggart & Mickel’s housebuilding business, and the £56m acquisition of Tulloch Homes. It also advised Forth Ports on is acquisition of OM Heavy Lift, and Edinburgh-based Craneware’s takeover of Sentry Data Systems in the US.
Other deals included the $1.5 billion takeover of Siccar Point Energy by Ithaca Energy, as well as advising HFD on the development of 177 Bothwell Street in Glasgow, and Aviva on the new M&G/Prudential offices being developed in Stirling.
More than 200 staff moved into a new 25,000 sq ft office in Edinburgh’s Capital Square.
Senior partner Richard Foley, said: “The progress we have made in diversifying client services, improving representation across the legal profession, and taking action to do our part to address climate change are all testament to what can be achieved when broader measures of success are applied to a business.
“Purposeful and profitable growth are a consequence of getting everything else right. We’ve made great strides over recent years and are delighted to see others in our industry do the same. It’s a reassuring signal of the direction of travel within the legal sector and Pinsent Masons has no intention of slowing the pace.”
Katharine Hardie, Pinsent Masons chair of Scotland and Northern Ireland, added: “Delivering good growth underpinned by healthy financial performance has led to an encouraging FY21/22 financial year.