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Scottish firm Tods Murray has set out an ambition to grow through joining forces with other firms in Scotland.
The firm merged with Edinburgh-based private client boutique Fyfe Ireland in January last year (23 January 2012), a move which boosted Tods Murray’s private client base by 35 per cent.
Tods Murray executive partner David Dunsire told The Lawyer: “We have our eyes open for opportunities - through our acquisition of Fyfe Ireland we have seen how successful mergers can be.”
Dunsire added that the firm is “firmly focused on achieving continued growth for Tods Murray and we are working extremely hard towards that”.
Tods Murray grew its turnover in 2012/2013 from the previous year, with turnover standing at £12.6m, up by 7 per cent from its audited 2011/12 figures (12 August 2013).
Merger talks have become ubiquitous in the Scottish market as firms look to adapt to the fiercely competive environment. Other recent Scottish mergers include the tie-up between Burness and Paull & Williamson (9 October 2012), while McGrigors and Biggart Baillie both found UK partners in the shape of Pinsent Masons (6 February 2012) and DWF (7 June 2012).
See this week’s Scotland special report, Stronger together, for a full analysis of the market.