Mid-tier legal firm Anderson Strathern has booked record full-year results as it continues to secure high-profile work.
The Edinburgh-headquartered firm, which has maintained its independence amid a flurry of industry takeovers and consolidation, said it had increased revenue by 7 per cent to £24.4 million. Profits for the year to the end of August were up 28 per cent to £8.9m.
Anderson Strathern, which also has offices in Glasgow and Haddington, in East Lothian, said its top-line growth had been supported by increased activity across the commercial, public and private client sectors and client wins during the year, including Edinburgh Airport, Skills Development Scotland, the General Teaching Council for Scotland and the University of St Andrews.
The firm’s dispute resolution team experienced increased commercial litigation and regulatory work, its rural land and business practice handled a series of major land transactions, the employment team continued to benefit from growth in tribunal claims, Brexit-related advice saw a “significant” increase and the corporate and commercial property teams secured growth through a number of large deals.
These included advising Soccerworld on its recent acquisition of East Kilbride-based five-a-side operator Goals Soccer Centres.
Since the year end, specialist Glasgow-headquartered law practice Hardy Macphail has been brought into the fold, enabling Anderson Strathern to expand its small and medium-sized business base. Alongside the Hardy Macphail deal, the firm is doubling the size of its Glasgow operation at George Square.
Chair Bruce Farquhar said: “Our vision for Anderson Strathern continues to be as an independent legal firm with highly rated teams who can be dynamic and innovative in their approach.
“We have demonstrated this approach during the year through the Meritas, Equity Gap and Amiqus initiatives and we will continue to seek out ways to differentiate ourselves from the sector when we believe this to be in the best interests of both our clients and our people.”
In June, the firm was selected as the first Scottish legal outfit by the Meritas global network, which numbers in excess of 180 law firms from more than 90 countries. In July, it launched investment vehicle AS Capital while joining the Equity Gap angel syndicate and making its first investment in energy sector specialist Synaptec.
Last month, Anderson Strathern announced a partnership with legal tech start-up Amiqus while also investing in the company’s latest investment round via AS Capital.
Murray McCall, Anderson Strathern’s managing partner, said: “The firm experienced revenue growth across all departments during the year and, in an economic environment characterised by uncertainty and not without its challenges, that’s testament to the quality of our people and their ability to deliver first-class and trusted advice to our client base.”
The firm has 53 partners and more than 230 employees. Its Anderson Strathern Asset Management arm now has some £250m of assets under management.