Pinsent Curtis and Biddle are to merge, creating a 157-partner national firm with a combined revenue of more than £75m.
The two firms will integrate from February and be known as Pinsent Curtis Biddle, with Biddle managing partner Martin Lane taking over as London chief from Pinsents’ Alan Greenough.
The merger, revealed on the 15 January by www.legalweek.net, comes after a full vote by both firms on 11 January. The deal was reached after several months of talks following an approach from Pinsents in August. Clients were being informed of the deal on 15 January.
Pinsents’ senior partner Julian Tonks and national managing partner David Ryan will keep their positions, with Biddle senior partner Martin Winter returning to full-time client work and Alan Greenough acting as national head of corporate.
The existing national practice heads of Pinsents, which last year saw revenues of £56.7m, are otherwise unaffected, although the combined firm is adding pensions as a national practice group under Biddle partner Chris Mullen.
All 29 Biddle partners are joining Pinsents’ partnership. Under its head of corporate, Roger Fink, Biddle is particularly well known for private equity work, a key market for Pinsents.
The combined firm will have 10 private equity partners based in London, out of a total of 21 London corporate partners, with revenue for the office approaching £30m.
The national firm will also gain from Biddle’s strong client base among occupational pension schemes and its well- regarded media practice.
Profits between both firms are broadly parallel, with Pinsents last year recording average equity profits of £225,000, against £270,000 at Biddle. Julian Tonks said: “Now we can compete with the leading firms outside of the magic circle.”
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Published: 18/01/2001 10:09
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