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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
KLEGAL, the legal affiliate of KPMG, has completed its first set of corporate technology deals since its creation a year ago. The deals have a combined value of just over £100m. Corporate partner Philip Rogers believes they are still highly significant for the fledgling firm.
The deals are Marconi's £70m acquisition of Albany Partnership, a £3m investment by 3i in NavigateOne, the $40m (£27.5m) sale of Computer Telecom Installations (CTI) to ADC Telecommunications, and a £13.2m management cash offer for Utilitec.
The first two deals were won through personal relationships between KLegal and Albany Partnership and NavigateOne. On the latter, KPMG was then instructed because of KLegal's involvement.
The other two deals arrived through the KPMG network. KLegal was brought in by KPMG to advise CTI, and on the Utilitec deal the firm advised auditors KPMG. It charged the accountant its usual fees for the transaction.
Rogers, who was lead partner on the NavigateOne transaction, says: "They are the first we've completed in this sector and of this type. It's part and parcel of establishing credibility in the market as a whole."
The deals saw KLegal work with some major firms, including Allen & Overy, as adviser to Marconi, and Dorsey & Whitney, which was instructing ADC Telecommunications.
The firm has spent most of this year bolstering its practice areas with several key lateral hires, including leading e-commerce partner Mark Haftke from Bird & Bird, and Gareth Davies, Simmons & Simmons' head of projects, and recently Weil Gotshal & Manges' London office managing partner Nick Holt, who joined as KLegal managing partner (The Lawyer, 1 May).
It has also focused on its assistant salaries in a bid to compete with City firms. As revealed by The Lawyer, KPMG has invested more than £6m on fee earner remuneration alone (The Lawyer, 12 June).