Kent firm Brachers is on the hunt for a merger partner after a partnership vote sealed its strategy for the future.
Brachers’ partners voted in favour of growth through merger at the firm’s recent strategy day and they will now undertake research to identify a suitable bride.
Managing partner John Sheath told The Lawyer: “We’re looking at merger possibilities and bolt-ons rather than organic growth because we don’t think there’s sufficient time to grow organically to the size we want to be.”
The firm wants to grow from its current size of 19 partners with a turnover of £11.2m to at least 40 partners and a £20m income, in order to break into The Lawyer UK 100.
Brachers will seek a merger within the next 12 months. Sheath added: “We believe the firm is at a crossroads and that we need to progress.”
This year’s revenue dropped by almost 5 per cent from 2005’s after three equity partners retired, but the firm reported strong performances in property, debt recovery and healthcare. The firm has a small London office in addition to its Maidstone headquarters.