Mon, 28 Apr 2014 | ADMINISTRATION
Gordon Dadds has bought London-based law firm Davenport Lyons out of administration, acquiring its client portfolio in the process.
Davenport went into administration on Friday (25 April) and it has now been confirmed that the company’s client database, the majority of its assets and nearly all of its staff and partners will join Gordon Dadds. The Mayfair-based law firm agreed terms of the sale with joint administrator Baker Tilly last week and finalised the deal today.
Davenport had struggled in recent years as its revenues fell 11 per cent to £21.9 million in the year up to April 2013, with business eventually ceasing when profits curtailed. The firm reportedly has 73 fee-earners and 42 partners; 80 staff including 30 partners will be transferred to Gordon Dadds as part of the deal.
Best known as the legal adviser to Private Eye, Davenport had reportedly been looking for a merger in recent months but a deal in February with HowardKennedyFsi fell through. The law firm also closed its film and TV group in November 2013.
Adrian Biles, managing partner of Gordon Dadds, said: “We are delighted to have the opportunity to work with so many of the excellent people and clients of Davenport Lyons. The additional intellectual capital and depth of expertise will add to our capabilities.
“It will benefit current and future clients and enable us to expand our activity across new disciplines, helping us to achieve our goal of positioning Gordon Dadds LLP as a centre of excellence for all aspects of corporate, commercial, real estate, dispute resolution, employment, intellectual property, media and technology and private client and family law.”
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