HowardKennedyFsi has confirmed it is in merger talks with commercial firm Davenport Lyons, in a deal that could catapult the combined firms into the top 50.
A spokesman for Davenport Lyons said the firm is in the initial stages of talking to HowardKennedyFsi with a ‘view to exploring the possibilities of a merger’. The talks follow Howard Kennedy’s merger with Finers Stephens Innocent (FSI) in February last year.
The combined turnover of both firms would total more than £60m.
In 2012/13 HowardKennedyFsi posted turnover of £42.7m, up from £43m the previous year, while profit fell from £9.9m to £9.5m.
Davenport Lyons had a turnover of £21.9m in 2012/13, down from £24.5m the previous year, with the firm deciding to become a limited liability partnership last year.
The Davenport Lyons spokesman said: ‘We are at a very early stage in those discussions but we remain open minded as to what may come from looking at this in more detail.'
He added: ‘We remain committed to the vision of growing Davenport Lyons, be it through bolt-ons, mergers or lateral hires and will look at all opportunities presented to us.’