Ward Hadaway annual results | 06 June 08
REGIONAL law firm, Ward Hadaway, has announced its year-end figures for the year ending 30th April 2008, with turnover growth of 13% to £28m.
Ward Hadaway Managing Partner, Jamie Martin, said: “These figures represent yet another year of double digit growth for Ward Hadaway, building on the 16% growth achieved in 2006/2007.
“Last year saw good growth and performance across most business areas with especially strong performance in Corporate, Employment and Healthcare.
“We expect next year to be a test of the resilience of our business, particularly in the light of the challenges facing the house building sector, but we are excited by the prospects of our Leeds office which will become operational in July.
“We have recruited some exceptional talent for Leeds and the office will add strength to the overall offering that Ward Hadaway has to make to clients.
“We are also pleased that we are retaining all 10 of our September qualifiers which demonstrates our strength and our ability to retain and deliver to the business good quality people who want to follow their career here.”
Highlights of the year included advising on one of the North-East’s largest deals of 2007, the £115m simultaneous share placing and £50m acquisition of US platform maker Snorkel by Washington-based Tanfield Group.
Ward Hadaway also advised FTSE 100 software giant Sage on a hat-trick of acquisitions totalling almost £60m, Executive Care Group on the sale of 16 care homes across the country and Premium Bars and Restaurants plc and China Goldmines plc on multi-million pound share placings.
The firm continued to enjoy notable success in the public sector, winning competitive tenders for a series of organisations including Gateshead Health NHS Foundation Trust, County Durham and Darlington NHS Foundation Trust, Tees Esk & Wear Valleys NHS Trust and North Tees & Hartlepool NHS Foundation Trust. These latest successes mean Ward Hadaway now represents more than 50 healthcare clients across the country.
The Employment team has seen rapid expansion, doubling in size over the course of a year to reach 16 lawyers by November 2007 in the wake of rising demand for its services from private and public sector employers.
Ward Hadaway also continued to attract talented lawyers over the course of the year with lateral hires including the recruitment of corporate finance partner Mike Spetch from Eversheds at the start of 2008, and Property Partners Kevin Weston from Cobbetts and Guy Morgan from Bevan Brittan, Insolvency Partner Steve Thomas from Brooke North, Employment Partner Alex Clements from Berrymans, Construction Partner Paul Washbourne from Beachcrofts, Property Associate Jonathan Dickson from Cobbetts and EU and Competition Associate Angelo Basu from Pinsent Mason for the Leeds office.
There was also recognition for the firm’s managing partner in the New Year’s Honours List, Jamie Martin receiving the OBE for services to North-East business.