Druces has acquired three-partner Clerkenwell property-based firm Clegg Manuel, the latest in a series of moves to add critical mass to the City firm.
Clegg Manuel specialises in property, employment, private client and business law. The two firms will combine with effect from Monday 21 June.
Chris King, director of finance and operations at Druces, said his firm had suffered during the recession, particularly in its property group. It had focused on cutting costs over the past year but was now looking to add turnover, King added.
“We have a two-pronged strategy of bringing in lateral hires and looking for smaller-sized law firms to merge with,” King said. “In the short term we’ll be looking to consolidate this merger but we’re not ruling out more.”
The Clegg Manuel follows a series of lateral hires Druces has made recently. They include corporate restructuring partner Richard Baines from Holman Fenwick & Willan, property finance partner Derek Collinson from Howard Kennedy and Graham Atkins from Bevan Brittan, where he was a property partner.
The Clegg Manuel deal is thought to add around £1m to Druces’ £4.5m turnover and take the total number of partners to 16.