Eight deals behind legal giant Shepherd and Wedderburn's 'significant' profit rise yet again

Shepherd and Wedderburn, which also has offices in Aberdeen, Glasgow, Dublin and London, has revealed strong growth in 2024.

The firm - founded in 1768 - reported 7% turnover growth to £71.4 million in the year to 30 April 2024. Net profits at the firm also saw a significant rise, growing by 12% to £30.2 million

Continued growth and a strong performance over the past year resulted in a 5 per cent bonus paid to all employees.

The results come after a slate of new hires and lateral moves.

Craig Whelton and Claire MacLean joined as partners from Burges Salmon, it was announced last week. The pair have a wealth of experience in clean energy.

Three new lateral hire partners include Sam Clarke in banking and finance, Jamie McRorie in regulation and markets, and Morag Hutchison in the employment practice.

In addition, in May the firm promoted two colleagues to the role of partner and seven to the role of legal director, demonstrating the firm's strategic commitment to talent and career development.

Reaction from Andrew Blain, Managing Partner of Shepherd and Wedderburn

"I am pleased we have delivered strong financial growth this year and increased revenues for the seventh consecutive year.

“We have made significant investments in key sectors and practice areas, and it is rewarding to see our strategic initiatives yielding positive results, particularly in our clean energy and real estate practices as well as our pensions and private wealth teams.

Andrew Blain, managing partner of Edinburgh-headquartered legal firm Shepherd and Wedderburn. Picture: Mike Wilkinson

“We are grateful to our clients for their support and for continuing to place their trust in us.”

Over the past year, Shepherd and Wedderburn advised on many significant deals and other work, showcasing its expertise in a number of key sectors for the firm.

Notable deals over the past 12 months

• Assisting Lone Star, a global investment firm, in the acquisition and financing of Union Square Developments Limited, the owner of Union Square Shopping Centre in Aberdeen, for £111 million.
• Advising BayWa r.e. UK in the £40 million project financing with National Westminster Bank plc for the Broken Cross Wind Farm.
• Acting for The Scottish National Investment Bank on a number of equity investments, including its landmark £16.7m investment into the UK spaceflight company Orbex and its £18m follow-on investment alongside BGF, into Trojan Energy.
• Acting on behalf of Global Infrastructure Partners in the property aspects of the sale of a 50.1% stake in Edinburgh Airport to Vinci Airports for £1.27 billion.
• Acting as Scottish counsel on Chart Industries' acquisition of Howden, a leading global provider of mission-critical air and gas handling products and services, from affiliates of KPS Capital Partners, LP, for US$4.4 billion.
• Acting as Scottish counsel for Devro on its acquisition by SARIA.
• Advising ESR Europe on its acquisition of the London & Scottish Property Investment Management Group.
• Acting for Investec on the establishment of REALIS, a UK real estate equity fund, and assisting with the fund’s first investment.

The firm's private wealth and tax team also maintained its prestigious Band 1 ranking in the Chambers High Net Worth Guide 2023, solidifying its position as a leader in the field.