Aberdeen-headquartered Ledingham Chalmers has extended its presence in Inverness after agreeing to a “milestone” takeover.
The deal for legal practice Anderson Shaw & Gilbert (ASG) is part of Ledingham’s nationwide growth plans and creates a business with annual revenues of about £14 million.
All 19 ASG staff members will join Ledingham Chalmers leading to a headcount of 196 including 29 partners.
ASG’s commercial property, corporate, rural and private client teams will trade under the Ledingham Chalmers brand with ASG’s Joe Duncan joining as commercial property partner.
Meanwhile, its estate agency practice will retain its name, with Findlay Boyd as conveyancing partner along with Iain McDonald as director.
‘Ambitious growth plans’
Ledingham Chalmers managing partner Jennifer Young said: “Strategic acquisitions are part of our ambitious growth plans to double our revenue to £25 million by 2025.
“Over the years, our focus in Inverness has evolved beyond what remains a strong public sector client base and specialised business law practice to the full-service model that has served us so well in Aberdeen with recent high-profile hires including partners JP Campbell and Gary Webster.
“With that in mind, this deal with ASG, a well-regarded practice we’ve worked with numerous times over the years, is an important evolution of our firm in the Highlands.”
Beneficial for clients
ASG’s Church Street premises will now be home to all estate agency, conveyancing and private client personnel.
The corporate, rural, litigation and employment law teams will work out of Ledingham Chalmers’ current Kintail House site and the commercial property team will be spread across both offices.
Mr Boyd said: “This is a mutually beneficial deal and gives ASG the opportunity to access a larger team of solicitors providing a broader range of specialist advice in what is an impressive service for clients ranging from first-time buyers looking for a home, to multinationals considering global mergers and acquisitions.
“All clients can expect a seamless transition and we’ve already been in touch with them to let them know what they can expect over the coming days and weeks, and that includes continuing to deal with their usual contacts.”
Last month Ledingham Chalmers, which has offices in Edinburgh, Inverness and Stirling, as well as at Thainstone near Inverurie, announced it was giving staff £1,200 each to help them with the cost-of-living crisis.
Financial results
The firm revealed a “positive” set of financial results for 2021/22 which include its highest turnover — £12.8 million — since becoming a limited liability partnership (LLP) in 2006.
Turnover for the group, including subsidiary Ledingham Chalmers Financial, was £13.6m, compared with £12.3m in 2020/21. Group profit also rose slightly to £4.1m from £4m the previous year.
The firm’s charitable trust also donated £13,000 between April 2021 and 2022 including £7,000 to mark its 30 years in business.
The results were based on its “staple” corporate and commercial practice areas while its rural and private client teams continued to rise against the prior years, it said.
