Mishcon de Reya and fellow UK law firm, Taylor Vinters, are to ‘combine’, albeit that they are phrasing it as the two firms ‘operating within the same group structure’. So a merger, but not a merger, if that makes sense.
In a statement to Artificial Lawyer, the firms said that: ‘Mishcon de Reya LLP and Taylor Vinters LLP have entered into a combination agreement. While the two firms will continue as separate entities their intention, subject to obtaining the relevant permissions, is ultimately to operate within the same group structure.’
How exactly this will look is something of a mystery, but presumably once Mishcon becomes a corporate and part of its shares are listed on the UK stock market it can create a wide range of structures.
Initially, one of the first things to come to fruition from the planned ‘combination’ will be what they are calling MDR Taylor Vinters, ‘a new business that will offer legal and consultancy services to innovators and entrepreneurs’.
They added that: ‘The long term vision of the Mishcon de Reya and Taylor Vinters teams is to establish the MDR Innovation Hub which will bring together MDR Taylor Vinters, MDR LAB, MDRxTECH and utilise the data science expertise Mishcon has built into a centre of excellence for the innovation economy. The MDR Innovation Hub will be led by a combined Taylor Vinters and Mishcon management team.’
In terms of the new MDR Taylor Vinters project, it will be led by Taylor Vinters’ management team.
While Mishcon is well-known for its innovation work, Taylor Vinters also has a track record here.
‘Taylor Vinters operates in the key UK innovation hubs of Oxford, Cambridge and London and represents both national and international clients. The business has been on a fast growth trajectory: in the past three years its revenue has grown by over 40%,’ the firm said.
Kevin Gold, Executive Chairperson of Mishcon de Reya, said: ‘This strategic combination is the culmination of years of thinking about how best to develop our business in the innovation space. In our many conversations with Taylor Vinters this year, particularly with the management team led by Ed Turner and Matt Meyer and with its Partners, it was obvious that we share the same values as well as strategic business vision. They are focused, purpose driven and have been very successful in growing their business and brand in the innovation space.’
Ed Turner, Managing Partner of Taylor Vinters added: ‘Their values are closely aligned with ours, they understand the needs of our clients and our business and the strength of our brand – as we do theirs. Combining our businesses enables us to accelerate our strategy and help more innovators and entrepreneurs shape a better world. It means we are able to invest and develop our core capabilities, retain and attract talent and innovate in our service delivery for clients.’