A south east firm has outlined ambitions to break into the UK’s top 100 after acquiring a neighbouring practice. Herrington Carmichael Solicitors will merge with Bonnetts Solicitors to create a firm with a combined turnover of £18m and headcount of more than 160.
Herrington Carmichael will maintain its new headquarters in Camberley, Surrey, with further offices in Ascot, Wokingham and London. The Bonnetts office in Twickenham was not part of stated future plans, and the firm has confirmed it proposes to close this site.
The acquisition announcement states that 18 employees will transfer to Herrington Carmichael from Bonnetts. The most recent Bonnetts accounts, for the year ending 31 March 2020, showed the firm had 42 employees, including directors. The firm has said that a small number of support staff and consultants will not transfer as part of the deal.
The addition of Bonnetts will increase the commercial property and property development teams of Herrington Carmichael. Liz Hailey, Steve Wareham and Graeme Black will all join the firm as partners.
Hailey said the deal will 'not only give our clients access to a wider range of services that will pave the way for a continued record of success but will also create further opportunities for growth and development for the ultimate benefit of our clients and staff'.
Herrington Carmichael, according to accounts for the year ended 30 September 2020, had net assets of almost £3m. The firm said today that turnover for the last financial year was £14.5m.
Yavan Brar, managing partner and head of corporate and commercial at Herrington Carmichael, added: ‘We believe that Bonnetts is an excellent addition to Herrington Carmichael, it was clear when we first spoke that we shared a similar focus and Bonnetts provide a strong cultural fit for us, it further extends the specialisms we are able to offer to our clients as we continue to build upon our strong platform for continued growth.’
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