Scots giant McGrigors has launched a UK private equity team in a bid to develop the firm’s corporate practice.
The group, which will be headed by Edinburgh-based partner Gary Anderson, consists of eight partners from four of the firm’s six offices, including Roger Connon, Barry McCaig, Alan Diamond, Allan Rippon, Patrick Martin, John Rutherford and incoming managing partner Richard Masters.
The group, which was formed at the end of last year, was created as part of the firm’s drive to boost its M&A profile in the City. The top 50 UK practice has set a target of 10% year-on-year growth for the team over the next three years.
Anderson told Legal Week: “Although this team was contemplated before the credit crunch, recent market activity is one of the reasons for its creation. If we continued to go about our work on a stand-alone basis in the current climate it would be difficult but, by working together, we can maximise on opportunities.”
The firm recently advised 3i on its investment in TS Marine, as well as acting for the management in the £44m management buy-out of Eurotel Holdings.
The news comes after the firm launched a 17-lawyer national capital markets practice from existing McGrigors teams last October.
The team, which is headed by London corporate partner Martin Finnegan, advises clients on a broad range of capital markets work including taking companies to market, fundraisings and public-to-private transactional work.