Wragges-LG merger is on the cards, but such a move carries risks as well as benefits for both
Once a Birmingham-centric firm, news this week that Wragge & Co is in merger discussions with Lawrence Graham (LG) marks a significant step in the firm's long-held ambition to build in the City. International expansion, including most recently in Germany and the Middle East, has helped Wragges move away from its origins as a regionally focused firm. It has also largely got over its struggles in the immediate post-crisis years, caused by a dominating real estate practice. The firm reported a marginal increase in turnover at the end of the 2012-13 financial year to £120.5m, while profits per equity partner (PEP) climbed 2.7% to £339,000. However, Wragges has been seeking a tie-up with a smaller London firm with several niche practice areas since realising it was struggling to make real headway in the competitive City market, since launching there in 2000.
LG needs a strong merger partner and Wragges could fulfil its City ambition, but are they compatible?
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