Freeth Cartwright is taking a stake in Oxford firm Henmans with one eye on a full merger in the future.
As part of the deal, Henmans will be renamed Henmans Freeth, with most of its 21 partners becoming partners in Freeth Cartwright. The deal will go live on 1 Febuary 2013.
Freeth Cartwright chairman Colin Flanagan said in an internal memo, seen by The Lawyer, that the tie-up is “likely to lead to [a] full merger in due course”. Following the tie-up, the Oxford office would become Freeth Cartwright’s second largest, after Nottingham, with revenue of just under £9m. According to the memo to staff it will take Freeth Cartwright’s overall turnover to close to £50m.
The memo said that the tie-up will gift Freeth Cartwright “greater depth and range of resource, whilst allowing us to achieve economies of scale and underpin our investment capability. Our entrepreneurial culture and innovative group structure give the local partners autonomy and freedom to focus on their established markets, whilst using the critical mass of the group to compete for larger clients on a wider stage”.
Henmans is a full-service firm with a particular focus on private client, charity, agricultural property and insurance work.
Freeth Cartwright has been focused on expanding nationally in response to the Legal Services Act (12 October 2011).
Readers' comments (7)
Anonymous | 8-Oct-2012 12:20 pm
Freeth Cartwright always seem to be merging. This one will move them up to 54th in the rankings, ahead of Keoghs, Farrers as well as Dickie Dees & Bond Pearce (before their merger).
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Anonymous | 8-Oct-2012 1:25 pm
Henmans is a firm that has had great potential but no credible leadership or plan for growth over the last 5 years and has drifted rather aimlessly, with turnover, profit and head count down.. This merger was really the only option. Freeths will provide more commercially driven expertise direction.
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c'mon Tim | 8-Oct-2012 2:44 pm
will it finally happen, or will it fail at the semi final hurdle?
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Anonymous | 8-Oct-2012 4:06 pm
Interesting observations by those emboldened to comment freely with the reassurance of anonymity.
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Anonymous | 8-Oct-2012 8:50 pm
Henmans previously always had a good reputation within the legal sector, not only for its quality legal advice but also as a good employer with a high regard for staff welfare and a minimal staff turnover. It does seem a shame that a firm who have been established for well over a hundred years, should choose to be a bolt-on for a larger firm seeking an instant office in a region they currently don’t have presence in.
Whilst Freeth are no doubt pleased with the acquisition of a new office with minimal effort, I’m sure Henmans are equally pleased to be moving up the rankings without having to do any of the leg work. After all, if you’ve only got little legs why run when you can get a piggy back?
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Chester E. Cheetah | 9-Oct-2012 9:01 am
"Anonymous | 8-Oct-2012 4:06 pm
Interesting observations by those emboldened to comment freely with the reassurance of anonymity."
How ironic.
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Anonymous | 11-Oct-2012 10:13 am
If the statement is valid, the source is irrelevant.
I always thought Henmans and Freeths were very good firms. If I put my name on this, would you attack my comment or claim I was emboldened by a sense of getting credit for what I write?
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