UK Top 100 Law Firm Announces Merger
4 November 2021
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Top 100 U.K. law firm Royds Withy King has announced its intention to merge with a fellow London firm next year, as pressure in the industry forces smaller firms to consolidate.
City outfits Goodman Derrick and Royds Withy King are in discussions with a view to merging to create a new entity called RWK Goodman, with effect from May 1, 2022. The firms said that a further announcement will be made “when a formal agreement to merge is reached”.
A merged entity would, however, fall short of the U.K. Top 50 law firms by revenue.
Royds Withy King last year ranked 83rd in the U.K. top 100 last year, posting £38.5 million in revenue for the 2019-20 financial year.
According to data from Law.com International, the firm grew its revenues to £36 million in the 12 months to April 2021, and had a profit per equity partner of £246,000.
Commercial outfit Goodman Derrick has 23 partners amid a team of 90 people. According to the statement, its clients include businesses, entrepreneurs and high net worth and high-profile individuals. Its 2019-20 limited liability partnership accounts revealed revenue of £13.6 million, compared to £15.1 million the year before.
Its core areas of work include corporate transactions, commercial contracts, real estate, construction, dispute resolution, employment law, private wealth & family, the statement added.
The last merger to take place within the U.K. Top 100 firms occurred last year, when Moore Blatch and Barlow Robbins agreed to combine to create an outfit with combined turnover of around £40 million.
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