Irwin Mitchell’s legal practice is closing in on the £200m revenue mark, with the firm’s commercial business generating revenues of £40m over the last financial year.
The firm has restructured in recent years to reflect the fact it has ABS licences that cover legal and non-legal businesses (20 August 2012).
At the 2011/12 year end the group posted revenues of £183.7m, bolstered by the inclusion of subsidiaries – claims handling company Coris, investment management business IM Management, debt collection agency Ascent, and its Spanish office IM Abogados.
Irwin Mitchell’s business division, headed by partner Niall Baker, has grown by 12 per cent over the last 12 months and is on track to post revenues of more than £40m, up from £35.2m last year.
Baker said the firm was looking to close the gap between the business division and personal legal services group, which is expected to produce revenues of £150m for 2012/13.
“We’re in good shape overall,” Baker said, “but in terms of how we can do it, it depends on finding a suitable merger partner. We’re biding our time because we don’t know what’s happening out there.”
The news comes as the firm named Manchester property partner Roy Beckett as regional managing partner for its business legal services (BLS) division. Beckett joined the firm in January along with three partners and a team of 10 from DLA Piper (16 January 2013).
Beckett succeeds regional head John Lord who is stepping down to focus on growing the Manchester office’s dispute resolution and insolvency offering.
Beckett said the strategic move was intended to bolster the commercial law division. “Our recruitment was very much part of the development of business legal services in Manchester,” he added.
In March Irwin Mitchell recruited former DLA Piper Birmingham managing partner Chris Rawstron as head of its BLS team in the city (6 March 2013).