Commentary: Addleshaws says it ain't broke, let's fix it anyway
Given that it was regarded as one of the most upwardly mobile mid-market practices in the UK top 50, the question begged by Addleshaw Goddard's decision to remove 19 partners from its ranks is whether it has been mobile enough. Yet Addleshaws, with a practice built on top-tier regional strongholds in Manchester and Leeds and a well-regarded City practice, maintains that the move does not signal weaknesses in its underlying business.The firm talks a decent game, pointing to a solid run of successes in recent months. Among the highlights are debut corporate instructions for six FTSE 100 companies, including Rolls-Royce and Wolseley, as well as new panel appointments to ITV and William Hill. In deals, the firm is understandably proud of its work for the Co-operative Group on its £1.57bn acquisition of Somerfield, a transformational deal for the client. Underlining the firm's strength in the mutual sector is Adam Bennett, who acted on 15 of the last building society mergers. And Legal Week's data provider Mergermarket ranked the firm 10th for volume of UK deals in 2008 - a key benchmark of mid-market strength.
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