Law Firms Agree GBP 30 Million Revenue Target
Revenue target means the amount of actual gross revenues, indicated on schedule A hereto, to be derived by the company from sales of its products and services to customers generated by the agent.
Illiffes Booth Bennett Solicitors has brought its 17 specialist practice areas together with full service law firm Turbervilles Solicitors. The deal was completed last week and the new law firm will go under the name IBB Solicitors.
All Turbervilles employees and the firm’s five partners will move to IBB’s offices in Uxbridge, north west London. The merged firm will be led by managing partner Joanna DeBiase with Turbervilles’ former managing partner, Russell Hallam, joining the IBB leadership team from January 2018.
Joanna DeBiase said: “Since developing our long-term vision in 2016, we have been looking at ways to make our firm more resilient. Mergers are one of the ways to achieve growth as long as both firms share the same culture and values.
At the core, both of our firm’s philosophies have always been about listening to our clients to get a really good understanding of how we can help them.”
The combined firm now aims to grow revenue to £30m by 2023 through the joining of practices working in different sectors.
Russell Hallam added: “Like IBB, we were keen to find a partner to boost our service offering to our clients who are mostly based in West London and the surrounding regions.
‘I am in no doubt that our clients will benefit from the combined and distinctive service offering now that two firms have become one.”