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.
November 21, 2013 at 06:18 AM
1 minute read
The original version of this story was published on Legalweek
LG needs a strong merger partner and Wragges could fulfil its City ambition, but are they compatible?
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.
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