Bristol-based TLT Solicitors has swallowed £4m-turnover London shipping firm Constant & Constant, increasing TLT’s partnership by 25 per cent and giving the firm its first office outside the UK.
Fifteen-partner Constant is based in London’s Sea Containers House, also the home of TLT’s London outfit, and has a second office in Greek shipping centre Piraeus.
This is TLT’s second merger since it launched in London, the first of which being the tie-up with £3m corporate boutique Lawrence Jones two years ago (The Lawyer, 11 April 2005).
TLT managing partner David Pester said: “We targeted Constant & Constant as it’s a strong commercial firm whose work in specialist banking and finance complements our own practice.
“It also brings additional resource in real estate, as well as further expertise in commercial trade, shipping, logistics and transport.
“It’s also extremely good fortune that we’re in the same building – we can increase our London infrastructure overnight without significant disruption.”
However, the merger mirrors the Lawrence Jones tie-up in that none of the group will immediately join the merged firm’s equity tier. The newly merged firm will operate under the TLT name and be headed by Pester.
Constant senior partner Richard Wilson said: “The merger will provide us with the resource not only to grow our traditional maritime practice, but also to enhance our commercial, property and private client business, [which will] enable us to provide the range of legal services that our clients demand of us in a more complex legal world.”