Withers has acquired six-partner technology law firm JAG Shaw Baker, creating a new legal offering called Withers Tech.
JAG’s entire 39-strong team, which includes six corporate- and intellectual property-focused partners, has joined Withers’ offices in London and Cambridge, England, as of Aug. 1.
The team, which is made up of 20 other lawyers and 13 business services staff, advise U.K. and U.S. entrepreneurs, companies and investors across sectors including life sciences, clean technology, and digital technology.
Withers, which said the new venture would focus on entrepreneurs, investors and technology companies, declined to disclose how many of JAG’s partners would join as equity partners.
“We are very excited to welcome JAG Shaw Baker to the firm,” said Jeremy Wakeham, CEO of Withers’ business division. “Their in-depth experience in the technology sectors is a great strategic complement to the work we do for tech entrepreneurs and investors in the U.S. and in Asia, and presents exciting possibilities to increase our activity in the sectors.”
JAG was launched in 2013 by co-founders James Shaw and Tina Baker. Prior to founding JAG, both were partners with Brown Rudnick—Shaw for four years and Baker for almost 13 years. Before joining Brown Rudnick, Shaw was a senior associate at legacy SJ Berwin.
Baker was a senior attorney with U.S. firm Edmonds & Co and also had a 10-year career as a professional musician and songwriter, which included singing backing vocals for Madonna and Bruce Springsteen.
“Since we opened our practice in 2013, it has always been our vision to grow our business through global expansion; and over the past five years, we have successfully created a business model that works for the European tech and life sciences ecosystem,” Shaw said. “The fast growth tech and life sciences markets are a growth area for Withers, so together with our industry expertise and their international reach, we can deliver that global model overnight to all of our clients.”
Withers recently posted a 1.2 percent increase in revenue alongside a 5.5 percent rise in profit per equity partner (PEP) for 2017-18. Revenue rose slightly from £174.5 million ($228.8 million) to £176.6 million ($231.6 million), while net profit climbed to £32.2 million ($42.2 million). The results mean the firm’s turnover has more than doubled during the past 11 years, climbing from £78.2 million ($102.55 million) in 2006-07.
PEP, meanwhile, hit £402,000 ($527,178), a 5.5 percent increase on 2016-17 when equity partners took home an average of £381,000 (499,639).