Royds completes merger talks with Derrick

Royds completes merger talks with Derrick

By combined revenue, the firms will rank among the top 70 law firms in the United Kingdom

With the successful completion of merger talks, Royds Withy King and Goodman Derrick have agreed to merge by the end of May, 2022 thus taking them into the top 70 firms in the UK by revenue.

Upon its establishment in May, RWK Goodman will house approximately 360 lawyers working from Royds Withy King's eight regional offices in the Southwest, Thames Valley and London and will have an annual turnover exceeding £50m.

Following the merger, Goodman Derrick's City office is expected to close and its employees will move to Royds Withy King's office at 69 Carter Lane in London. The combined firm will have about 30 percent of its lawyers based in London, according to a statement.

Graham Street, Royds Withy King's managing partner, describes the deal as a "significant step forward" for the two firms. He says it allows the firm to continue ranking among the top 100 law firms in the UK while also 'significantly strengthening' its corporate and real estate practices.

There are about 480 people working for the Bath-based firm, including 65 partners, and they provide guidance in areas like corporate, commercial, private client and family.

Managing partner Street will continue leading the combined firm as the firm's managing partner, while Edward Hoare, Goodman Derrick's senior partner and Mark Jones, its chief operating officer, will join the executive committee.

"It was clear at inception that both the firms shared an alike culture and emphasised on outstanding client service," said Hoare. As part of the merger, both firms now offer a wide range of specialist services, which will be of benefit to both firms' clients and create growth and development opportunities for both."

At Goodman Derrick, there are 90 employees, including 20 partners. Corporate and corporate transactions, employment law, real estate, construction, dispute resolution and wealth and family law make up the firm's core practice areas.

In a study just published last week, nearly half of UK law firms are considering mergers and acquisitions to expand faster than organic growth allows, with 23 percent already in negotiations and 57percent actively in the process of seeking a merger.

In an announcement released earlier this month, the top 45 UK firm Weightmans announced plans to merge with Radcliffes LeBrasseur by the end of March. As a result of this acquisition, Mills & Reeve will have more than 225 partners and 1,400 professionals. Its combined revenue will be around £120m, placing it in the same group as top 40 UK firms like Mills & Reeve and Slater & Gordon.

In November, 2021, Clyde & Co, a top 50 law firms in the UK ranking and BLM admitted that they were in talks about merging. This would combine Clyde's 2440 legal professionals with BLM's 790 lawyers, creating a firm with revenue of around £735 million.