Latham’s City office has reported a 12 per cent increase in turnover for the 2011 financial year after securing a roster of multi-billion pound deals last year.
Turnover was up to £120m from £107m the previous year. The London office, which said its revenue per partner figure for the year was £2.3m, appears to be in growth mode after a year marked by instructions on a number of high-profile deals.
The European leveraged finance team landed a mandate advising on the debt financing of BC Partners’ acquisition of Com Hem from the Carlyle Group and Providence Equity Partners in a tertiary buyout. The team also advised on the financing of the $6.6bn sale of Poland’s second largest mobile phone network operator Polkomtel, a deal billed as the largest leveraged buyout in Europe since 2008.
“Despite a challenging global economy, Latham’s London office has performed strongly and we’re well placed for the coming year,’’ said London managing partner Nick Cline.
‘‘The London office continues to be a strategic growth area for the firm and this will also continue into 2012.”
The news comes after the firm posted an 11.6 per cent rise in global turnover along with a 14.1 per cent increase in average profit per equity partner (PEP) for the 2011 financial year.
Turnover reached $2.152bn last year while PEP hit $2.274m. Revenue per lawyer also rose, by 7 per cent, to $1.069m (16 February 2012).