Two firms in the UK’s top 200 are in talks to create a business with a combined annual revenue of more than £50m.
Goodman Derrick LLP and Royds Withy King LLP confirmed they are in discussions with a view to merging to create RWK Goodman LLP with effect from next May.
The firms said in a statement: ‘These discussions are progressing positively and a further announcement will be made when a formal agreement to merge is reached.’
Royds Withy King has eight offices covering the M4 corridor from London to Bristol. The firm has around 380 staff and serves clients ranging from individuals through to multi-national FTSE companies.
Its most recent annual accounts, for the year ended 30 April 2020, show the business increased turnover by 2.1% to £38.5m, while profit before tax was down marginally to £8.7m.
Goodman Derrick is a commercial law firm based in the City of London, with 23 partners and a team of 90 people. Its core areas of work include corporate transactions, commercial contracts, real estate, construction, dispute resolution, employment law, private wealth and family.
Its accounts for the year ending 30 April 2020 show that turnover fell 10% to £13.7m while operating profit was down 35% to £3.7m.