Sprecher close to Martineau merger

Martineau and Sprecher Grier Halberstam are edging closer to a merger deal as partners prepare to cast their votes this month.

The potential tie-up between Birmingham-based Martineau and City firm Sprecher stands to ­create a combined entity with a £31m turnover, propelling it into the top 80 UK firms ranked by revenue.

Sprecher managing ­partner Emma Shipp said the merger talks are ­”progressing well” and that the future of the two firms should be sealed by the end of September.

“The signs are looking good from a strategic ­perspective and it ticks a lot of boxes for both firms,” said Shipp. “We’re in similar areas but don’t have the same clients or work streams.”

The firms plan to combine their finance, litigation and property clout, while taking advantage of their geographic footprints in London and the Midlands.

“We both act for lenders but [Martineau’s] strength is in the banking sector, whereas ours is in insolvency, so the business plan is to tie our insolvency ­expertise with their banking expertise,” commented Shipp. “There’s a natural crossover and cross-reference, and it looks like a nice fit. It makes both firms more full-service and we can’t see any potential conflicts.”