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Brabners Chaffe Street

Brabners Chaffe Street

UK 200 RESULTS 2010

Position:
Movement since 2009

Turnover (£M):
Profit per equity partner (£K):
Earnings per partner (£K):
Equity spread (£K):
Net profit (£M):
Profit margin (%):
Revenue per fee-earner (£K):
Revenue per lawyer (£K):
Revenue per partner (£K):
Revenue per equity partner (£K):
Total number of fee-earners:
Total number of qualified lawyers:
Total number of partners:
Total number of equity partners:
Total number of female partners:
Total number of female equity partners:
Total number of staff:
Leverage ratio (fee-earners per equity partner):

=80
UP

30.5
260
174.29
98-280
8.5
28
137.4
157.2
435.7
924.2
222
194
70
33
8
4
378
4.88

Turnover at Brabners Chaffe Street got a £2m boost at the start of the 2009-10 financial year through the acquisition of Liverpool-based commercial and property firm Bremners Solicitors. The tie-up also expanded Brabners’ social housing nous, where clients include the Riverside Housing Trust and North West consortium Generate Group.

Brabners has a solid regional reputation in the corporate market, where it competes regularly with much larger regional and national players. Corporate and finance together comprise around a fifth of total revenue at the North West firm, where last year’s standout deals included advising insolvency specialist Begbies Traynor Group on its acquisition of business recovery and insolvency practitioner Tomlinsons.

But Brabners’ unique selling point is its sports practice. Over the past year it worked on some of the biggest football transfers in the market, including Manchester United’s record £80m sale of Cristiano Ronaldo to Real Madrid and Liverpool’s £18.5m signing of Glen Johnson from Portsmouth. More unusually it advised the stars of UFC, the US mixed martial arts championship, on their global sponsorships, endorsements and public appearances, as well as fighting and film contracts.

In 2009-10 Brabners restructured its management, with Michael Brabner stepping down as managing partner after 15 years to become senior partner. Brabner was replaced by Manchester head Mark Brandwood.

UK 200 RESULTS 2009

Position:
Movement since 2008

Turnover (£M):
Profit per equity partner (£K):
Earnings per partner (£K):
Equity spread (£K):
Net profit (£M):
Profit margin (%):
Revenue per fee-earner (£K):
Revenue per lawyer (£K):
Revenue per partner (£K):
Revenue per equity partner (£K):
Total number of fee-earners:
Total number of qualified lawyers:
Total number of partners:
Total number of equity partners:
Total number of female partners:
Total number of female equity partners:
Total number of staff:
Leverage ratio (fee-earners per equity partner):

82
DOWN

29.0
229
174.6
100 - 300
8
28
140
187
460
829
207
155
63
35
8
4
359
3.43

Brabners Chaffe Street its probably best-known for its football practice. The North West firm acts for Manchester United and Liverpool FC on transfer work and scored a role on the record-breaking sale of Cristiano Ronaldo to Real Madrid last summer.

Employment is a lucrative area for the firm generally – clients include JD Wetherspoon and Habitat.

However, real estate is the single largest practice, with construction a particular strength.

This might explain why, following the drastic slump in the property market, turnover and PEP were both down in 2008-09, falling by 6 per cent and 36 per cent respectively.

Of more concern will be the fact that Brabners saw its profit margin drop from 42 per cent to 28 per cent last year. Like many others, the firm has been forced cut staff, with 23 in total being made redundant.

Yet it was not all bad news for new managing partner Mark Brandwood, who took over from long-serving incumbent Michael Brabner at the end of 2008-09.

The firm was originally formed via a merger between Manchester-based Chaffe Street and Liverpool’s Brabners in 2001.

And at the end of the last financial year it was on the acquisition trail again, merging with eight-partner social housing specialist Bremners Solicitors, a move which should boost revenue in time for next year.

Around half of Brabners’ 63 partners are equity, taking their place on a merit-based modified lockstep.

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