Property underpins Aarons growth
Aaron & Partners, the law firm with offices in Chester, Shrewsbury and Manchester, is celebrating continued success after increasing its annual fee income for the third year running.
Now ranked in the top 200 law firms in the UK, Aaron & Partners LLP has achieved fees of £7.92m for the 2014/15 financial year, a 9.1% increase on the previous year's £7.26m.
Andy Duxbury, chief executive of Aaron & Partners LLP, said: "We have seen especially strong performances from our corporate and commercial and property teams, which have grown year-on-year by 67% and 36% respectively. Both teams have benefited from the improving economy, which has stimulated deal making and investment, and a greater confidence in businesses planning for the future.
"Examples of some of the projects we have been involved with this year include the £13m sale of TxtLocal to IMImobile, the £3m sale of Cambrian Parks & Leisure Homes to YFM Equity Partners, the sale of Projen to Capita, the conclusion of the administration of the Ardeth Group of companies and the liquidation of Latham Engineering.
"In terms of sector specialisms, we continue to make a significant impact, for which we gain UK-wide recognition through our representation on national bodies in the logistics, professional practices and renewable energy sectors."
In the past year, Aaron & Partners LLP has advised on two major wind farm applications, the first a 62.1 MW electricity scheme in the Conjoined Mid Wales Public Inquiry, the outcome for which is currently being considered by the new secretary of state at the Department of Energy and Climate Change. Secondly, Aaron & Partners continues to advise Renewable Energy Holding's 89MW Mynydd y Gwynt scheme.
Aaron & Partners LLP, which was founded in Chester in 1983, has undergone significant expansion in the last two years with the opening of a new Shrewsbury office following its acquisition of Bennett's Legal in 2013.
Duxbury added: "Our Shrewsbury office is now a £1m operation and has grown way beyond our expectations, to the extent that we fast-tracked a move to larger premises last year. With new people and new work generated across property, commercial and professional practices, the Shrewsbury team has put in a fantastic performance, outstripping the market.
"Our end-of-year figures are something to be proud of; we've grown 40% in the last three years coming out of the recession and our clear, strategic positioning is paying off. Unlike the typical law firm, our agile corporate structure and small, highly focused executive board means we run our firm like a business, which our commercial clients can identify with. In setting the scene for further growth, we've also appointed a new financial director, Steve Marsh, who is making a crucial contribution at both an operational and strategic level."
Duxbury concluded: "Of course there are challenges ahead, but the figures prove that the future for a well-managed, fully focused, high-quality law firm is as strong as it's ever been. The quality of our people is exceptional and I'd like to give my thanks and gratitude to everyone at Aaron & Partners for their hard work and dedication in achieving these outstanding results."