Addleshaws team must be a tempter for DWF
Some critical outsiders saw DWF’s acquisitive growth plan as flawed. Yet the proof of the pudding, as they say, is in the eating. Since 2008/09 the firm has grown revenues from £60m to an expected £200m at the 2013/14 year-end – a whopping 233 per cent uplift.
Following a run of bolt-ons and acquisitions, the firm has recently turned its attention to filling practice gaps through lateral hires. In the past financial year it has made 39 partner hires. That compares with 25 in 2012/13 and 20 in 2011/12. The insurance group has seen the biggest growth, adding 14 partners in 2013/14.
Perhaps the most high-profile hire of the new financial year has been the audacious move of Addleshaw Goddard employment partner Andrew Chamberlain.
Not only was Chamberlain responsible for a raft of Addleshaws’ key clients, many in sectors in which DWF is also strong such as retail, he was also the brains behind the firm’s early move into process-mapping and low-cost service delivery.
In November 2010 he led the launch of the Manchester-based Transactional Services Team (TST), a unit staffed by paralegals that provides administrative and process support on transaction, -litigation and advisory work. The firm was ahead of the curve – many of its peers have launched their own TST equivalents since.
Given that DWF has been on a process efficiency drive of late, it is little wonder that Chamberlain was an attractive hire. Could it also be looking for a bolt-on through the addition of the TST business?