ANDERSON Fyfe has become the latest Scottish law firm to enter into a merger.
It expects to formally seal an agreement with Bristol-based TLT at the start of July in a move that will create a firm with a £48 million turnover, 80 part-ners and 750 employees.
The deal will complete TLT's geographic coverage of the different legal jurisdictions in UK and adds to offices in London and Belfast. All 45 Anderson Fyfe staff and eight partners from the Glasgow and Edinburgh offices will transfer over with the firm rebranding as TLT.
Tom McEntegart, Anderson Fyfe managing partner, will become operational managing partner for TLT in Scotland. The merger has been driven by clients looking for one firm to handle legal requirements across the UK.
TLT gets more than 40% of its income from financial services clients, while Anderson Fyfe specialises in recoveries for financial services businesses.
Mr McEntegart, a solicitor advocate, said the merger would provide opportunities to grow the business in Scotland in a number of areas.
He said: "This merger is a good strategic move by both firms to enhance our client service delivery, strengthen our relationships with clients, and to grow our market share.
"This is not growth for growth's sake. It is about achieving a level of scale whereby we can continue to compete successfully in the market. By combining our strengths and our resources, we strengthen our position in the legal market."
David Pester, TLT managing partner, said: "Through a merger with Anderson Fyfe – a well-managed business with strong financials and which shares TLT's vision and enjoys a similar working culture – the combined firm can deliver efficiencies to clients who are looking for a UK-wide solution to the delivery of litigation services."
This year there have been several mergers involving Scottish firms including McGrigors and Pinsent Masons, Andersons and DAC Beachcroft and Fyfe Ireland and Tods Murray.
Legal experts have suggested further consolidation is inevitable as commercial pressures in the sector continue to bite.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article