McCormicks to split following rare MBO

Yorkshire stalwart McCormicks is to split in two following a management buy-out by six junior equity partners at the firm's Leeds office, it was announced today (23 January).

The unusual move will see the six-strong group take over the partnership shares of founding partner Peter McCormick, litigation partner Neil Goodrum and corporate crime partner Geoff Rogers and relaunch the firm's 24-year old Leeds office as Clarion Solicitors.

Private client head Mark Burns will take on the role of managing partner at the new practice. He will be joined by corporate and commercial partners Clive Lawrence and Richard Moran, corporate recovery specialist Roger Hutton, corporate crime specialist Robert Rode and litigator Simon Young.

As part of the move, which goes live on 1 February, salaried partners Ryan Millmore, Martin Grange, David Arundel and Sara Rogers will also stay on at Clarion.

Burns said: "This gives us an exciting and vibrant business from which to launch our ambitious plans for the future."

Goodrum, Rogers and sports and media law specialist McCormick will continue to practise under the McCormicks banner from the firm's Harrogate branch, which was launched in 1987.

The trio retain all rights to the McCormicks trading name and will take with them a bluechip client roster that includes Leeds United FC, the Law Society and the FA Premier League.

McCormick commented: "This is an excellent deal for everyone. It is very rare for solicitors to be able to sell a business and reap some capital reward for the years spent building it up. Equally, younger partners usually have to wait much longer to acquire the ability to own and manage a firm."