Ashfords and Boyes Turner have announced that subject to completion of due diligence and legal agreements they intend to merge from 1 May 2019, concluding a process that began with exploratory negotiations in early 2017. The combined firm, will have a turnover of £60 million, with 7 offices, 100 partners and 700 staff.
The merger responds to client demands for innovation, efficiency and value and will deliver this through increased sector expertise, strong relationship management and scale of resource.
The combined practice area and sector expertise will ensure the long-term sustainable growth of the firm. Added to this is the mutual desire to innovate and develop services and product lines that support clients beyond their normal periodic transactional legal needs which will be strengthened by the investment power of the combined firm.
Garry Mackay, Chief Executive and partner at Ashfords, said: ‘Ashfords have grown 76% in the last 6 years and the merger aligns with our firm strategy for moving forward and our drive to ensure our clients always receive the best advice. Having spent a lot of time with individuals at Boyes Turner it was clear that culturally both firms are like-minded. This was an imperative part of any deal as this enables us to retain the positive, rewarding and fair working environment Ashfords has a reputation for. The merger will provide enhanced progression opportunities and allow the firm to attract and retain talent.’
Boyes Turner chief executive and partner Andrew Chalkley said: ‘As a leading tech and innovation firm this merger allows for greater growth from our existing strong position. The firm has seen double-digit growth in recent years and the financial year to date growth is 12%. This merger gives us the scale and investment capability to grow, expand our client base and keep pace with our clients’ needs. The combined firm will enable us to provide even more value to our clients as we will be able to offer a wider range of skills and service lines.’