Morgan Cole grows in Bristol with local merger

Thames Valley firm Morgan Cole has taken over Bristol-based insurance boutique CIP Solicitors, which has four partners and 75 staff.

The acquisition will quadruple the size of Morgan Cole’s Bristol office and strengthen its insurance capacity to around 30 per cent of the firm’s turnover.

Morgan Cole’s commercial director Tim Pashley said: “We’re finding that in the current difficult times our strategic aims are to be in the public sector, private sector and the insurance sector.

“We’re finding at the moment that there’s work to be had in a spread portfolio,” he added.

The firms’ total combined headcount will be around 570 staff, with 57 partners.

Morgan Cole first opened in Bristol two years ago with corporate associate Paul Hardman, who has since been promoted to partner. Soon after the firm relocated an insurance team of 20, taking the office up to around 25 members of staff.

Pashley said the merged firms would be budgeting for a turnover of between £36m and £37m in the 2009-10 financial year.

In 2007-08 Morgan Cole turned over £32.1m with offices in Bristol, Reading, Oxford, Cardiff and Swansea.