TLT has advised South West based Stones Solicitors on the terms of its merger with Trowers & Hamlins, an international firm with an existing base in Exeter.
When completed on 1 October 2015, the merger will create a combined firm of nearly 800 staff with a turnover of approximately £85m.
The TLT team was led by partner and head of corporate, John Wood, who said: "This is a high-profile merger in the region. It is both significant for our client’s growth as well as the fabric of the professional services sector in the South West. As a corporate team we expect to see continued consolidation in the region as law firms aim to deepen their expertise and strengthen their scale for clients."
Adrian Richards, Stones' Chief Executive Officer, added: "This is a very exciting development for both our firms and we are looking forward to taking advantage of the opportunities this merger will provide for our clients, as well as our lawyers and staff. This is very much about Trowers & Hamlins choosing us as a business partner, and it is a reflection of the high quality of our work and expertise, our reputation and our position in the market."
Stones Solicitors is headquartered in Exeter. In Exeter the firm will be known as 'Trowers & Hamlins incorporating Stones Solicitors', for two years post completion, before becoming Trowers & Hamlins.