Bircham Dyson Bell has overhauled its management structure and is searching for bolt-on merger partners in a bid to enter The Lawyer's top 50 league tables within five years.
The firm, which ranked 77th in last year's The Lawyer UK 100 Annual Report, will have to nearly double its turnover in order to reach this goal.
Birchams recorded an 8 per cent increase in turnover last year to reach £24.6m. This compares with Halliwells, which ranked 50th in the 2004 league tables after reporting a turnover of £40.4m in 2003-04.
Birchams managing partner Michael Wood explained that the firm was "looking for bolt-ons" similar to its merger with niche social housing practice Jenkins & Hand in April to assist its growth strategy. It also plans to convert to a limited-liability partnership by the end of the year.
As part of its growth strategy, the firm has initiated a complete overhaul of its management structure, replacing the previous executive committee with a two-tier management and partnership board structure.
The management board, which held its inaugural meeting last Thursday (21 July), will focus on the implementation of the firm's growth strategy, while the partnership board will oversee partnership issues such as remuneration and promotions.