Shepherd and Wedderburn has reported 5% turnover growth to £62.2m in the year to 30 April.
Net profits, before partner distributions, grew 3% to £26m.
In addition to the law firm’s performance-related bonus scheme, colleagues will now receive an exceptional bonus worth 5% of annual salary.
This was the first year of Shepherd and Wedderburn’s revised three-year strategic plan which focuses on driving growth in core areas including property, infrastructure, corporate finance, technology and clean energy.
The latter two areas have seen particularly strong client activity in the last year, with current clean energy mandates including work in relation to ScotWind, INTOG and Celtic Sea.
Other notable activity this year included acting for TVSquared in its $160m sale to US-based Innovid, advising Scottish Sea Farms in its £164m purchase of the UK fish farming interests of Grieg Seafood, and acting for Miller Homes in relation to the Scottish property and planning aspects of its acquisition by Apollo Global Management.
The past year has also seen Shepherd and Wedderburn invest in its office footprint, relocating to a new Aberdeen office with capacity to double the firm’s headcount in the region, as well as agreeing to relocate its Edinburgh headquarters to M&G’s Haymarket Edinburgh development.
Elsewhere, firm’s banking team advised on 150 transactions, with a total value of £101 billion, while it was also appointed as the sole legal provider to the Scottish National Investment Bank.
Other deal work included acting for the shareholders of Granfit in the sale of the entire issued share capital to Norcros Group for up to £92m, and acting for CBRE UK Property in the purchase of Exchange Place One from a fund managed by Macquarie Asset Management.
During the past 12 months, Shepherd and Wedderburn has promoted five lawyers to partner, with women accounting for 80% of these promotions
Ian Bowie was hired as a partner in the property team, with the recruitment of a number of other partners set to be announced in the coming weeks.
Six lawyers were promoted to legal director and 18 to associate, as well as 17 lawyers taking up new senior associates roles. 40 new solicitors were appointed, alongside a record number of trainees.
Andrew Blain, managing partner of Shepherd and Wedderburn, said: “We have achieved the targets we set ourselves for the first 12 months and made a number of strategic investments in people and premises.
“We go into 2022/2023 with a strong and growing platform to support clients and deliver on our 2024 strategy.”
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