CMS, Nabarro and Olswang confirm ‘combination’ talks
Three London-headquartered international firms with a combined turnover of nearly £1bn have confirmed they are in discussions to establish a combined firm.
CMS, Nabarro and Olswang are in talks about a 'potential combination', the firms’ leadership teams said in a joint statement this lunchtime.
The statement adds: 'The leadership consider this combination would create a differentiated, modern firm that would combine scale with an exceptional depth of sector expertise.
'The combined firm would provide clients with a stronger and more global platform served by 65 offices across 36 countries, underpinned by a 250-year heritage.'
CMS, created through mergers in 1999, has 850 partners and 3,200 lawyers across 60 offices (pictured) in 35 countries.
The firm reported net profits up by 3.3% for the year ending 31 December 2014 on revenue up 11% from £679m to £753m. In the year it added 109 new partners, including 78 from mergers with Scottish firm Dundas & Wilson and Swiss practice ZPG Avocats.
Nabarro, which has offices in London, Manchester, Sheffield, Brussels, Dubai and Singapore, has a turnover of £130m. The firm has more than 100 partners leading 300 lawyers focused on delivering ‘practical, business-savvy legal advice’, according to its website.