Lupton Fawcett takes over Fox Hayes” />Leeds firm Lupton Fawcett is to acquire the entire commercial and private client business of local rival Fox Hayes, as it seeks to more than triple in size over the next three years.
Under the agreement 10 Fox Hayes partners will move over at the beginning of 2009, including managing partner Philip Drazen, who is expected to take up the role of head of regulatory at Lupton Fawcett. A further 17 fee earners and 11 support staff will join the partners.
Lupton Fawcett managing director elect Richard Marshall (pictured) said: “We want to grow, we think the market presents all sorts of possibilities and we anticipate that we’ll be doing more. We want to have a £30-50m turnover over the next three years.”
At the end of the 2007-08 financial year Lupton Fawcett brought in £11.4m while Fox Hayes brought in £10.1m over the same period.
Marshall added: “The focus is to concentrate on Yorkshire. We’ll do anything that adds value to the client base.”
Following negotiations over a period of several weeks, Lupton Fawcett will acquire teams covering company commercial, commercial property, commercial litigation, employment, sports, media and entertainment, corporate defence and prosecution, health and safety, licensing, family, probate and personal injury work.
Lupton Fawcett will not acquire Fox Hayes’ volume conveyancing business because the firm claims it is not in line with client needs.
Fox Hayes was unavailable for comment.