Top-50 firm Penningtons Manches is to merge with Thomas Cooper, a specialist in shipping, international trade and international arbitration with offices in London, Paris, Madrid, Piraeus, Singapore and Sao Paulo, the firms announced today. The integrated business, Penningtons Manches Cooper, will have a combined turnover of more than £90 million.
The deal is the firm’s first major transaction since Penningtons and Manches joined forces in 2013. It marks an expansion into the shipping sector and access to the international arbitration hubs of Paris and Singapore.
In a statement, David Raine, Penningtons Manches’ chief executive, said: ’Thomas Cooper has a long and proud history in shipping, maritime and cross-border work, with a strong client base served by highly skilled specialist lawyers. The large-scale work undertaken by its international arbitration and litigation teams will really enhance the growing importance of this area of work. Moreover, having an established, on-the-ground presence in a number of important international jurisdictions is a significant advantage as we look to maintain the needs of our increasingly international client base.’
Tim Kelleher, senior partner at Thomas Cooper said: ’Penningtons Manches has a thriving, robust business and we’ve been seriously impressed with the senior team’s vision and strategy throughout this process. By joining forces, our clients will benefit from a wider service offering both in the UK and internationally – in particular they will have access to skilled teams specialising in immigration, private wealth, corporate and project finance, tax and insolvency and restructuring.’