London-based life science specialist Stringer Saul is merging with one of Canada’s largest firms, Fasken Martineau DuMoulin.
The deal, due to go live on 1 February next year, will create a £110.7m firm with offices across Canada and in London, New York and Johannesburg. It is the first merger of full-service Canadian and UK law firms.
The continued attraction of the Alternative Investment Market (AIM) is the prime driver of the deal. The last year has seen around 80 new admissions to AIM, 44 of which were from Canada. Stringer Saul has taken more than 100 companies to AIM since its inception.
“This makes us well placed to reap the benefits of the continued stream of instructions in this area,” Stringer Saul’s managing partner Norman Ziman said.
Fasken is particularly well known for its mining strength, an area that is the single largest sector of companies listed on AIM.
The deal will see £8.5m Stringer Saul form part of a 650-lawyer international outfit. The London firm currently has 20 partners, 10 of which are full equity. All 10 will join the equity the new firm, which will be called Fasken Martineau Stringer Saul in the UK.