National law firms around the UK have collectively posted an average growth in turnover of 9.4%, outpacing growth in the UK top-50 and ahead of growth figures posted by the big City firms, reports Legal Week.
Several of the UK's national firms posted figures well beyond the average, with DLA Piper's turnover growing 16%, whilst Weightmans, which employs more than 1,100 staff across offices in the Midlands, London and the North West posted growth of nearly 33% after merging with Mace & Jones and Vizards Wyeth.
Patrick Gaul is managing partner at Weightmans LLP.
"Size is important, especially when trying to attract the bigger work. It's not a case of following the other firms. It's about ensuring you are competitive," he told Legal Week.
However, the news was not all positive, Shoosmiths posted a 3.3% fall in turnover amid news that it is to cut 86 jobs.
Elsewhere, Legal Week reports that several UK law firms have advised on a £4.5bn new rail contract for the production of a new fleet of intercity trains.
Agility Trains, a consortium which includes Hitachi Rail Europe won the contract to build 92 trains for the Great Western and East Coast lines.
The contract was signed off this week by the Department for Transport, which claims that the deal will create some 730 skilled jobs with additional unskilled positions.
Colin Wilson is part of the DLA Piper team led by London projects head Colin Wilson.
"This hugely significant contract required us to create innovative contract structures to accommodate for the first time, a Public Private Partnership (PPP) structure for the procurement and delivery of rolling stock," he told Legal Week.
Law firm Ashurst advised a consortium of banks funding the deal with long-term debt, whilst Shoosmiths advised Hitachi. City 'magic circle' firm Clifford Chance advised the European Investment Bank, and Network Rail was advised by Simmons & Simmons.
Transport Secretary Justine Greening said: "There can be fewer stronger signs that the UK is the best place in which to invest, and from which to develop new markets, than Hitachi's decision to base its European manufacturing base right here in Britain."
Source:
Line-up of top UK firms on board £4.5bn UK rail development deal (Legal Week)
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