UK 200 position: 118
York-headquartered Langleys had a strong 2011–12, boosting turnover by around 10 per cent from £16.2m to £17.8m. The firm’s headcount stayed fairly static, with 32 partners and 79 qualified lawyers, although overall staff numbers grew from 297 to 334.
Average profit per equity partner rose to £226,000, while net profit grew by 14 per cent.
Much of the firm’s focus in the past few years has been on reducing the number of equity partners, part of an attempt to get it into better shape for a strategic merger. This was also a key factor behind the firm’s decision to convert to an LLP in November 2011.
The firm has also revamped its equity partner remuneration model to include both lockstep and merit-based components, with an increasing focus on partner performance elements.
These moves are part of an overarching plan for Langleys to break into the top 75 in the next three-to-five years and to expand its geographical presence. The firm currently has offices in York and Lincoln.
Turnover (£m): 17.8
Total lawyers: 79