Travers Smith revenue passes £100m mark for the first time

Travers Smith has announced a 9% increase in turnover to £106m in its 2014-15 financial year, up from £97.2m in 2013-14.

The firm said that in the year to 30 June 2015 profit per equity partner also increased, to £935,000, up 6% from £882,000 the previous year.

The firm’s senior partner Chris Hale said: “We attracted a strong pipeline of work from our UK and international clients last year and maintained high levels of activity across all areas of the firm.”

Managing partner David Patient said that the results were significant as they come at a time when the firm is making significant investments, including the refurbishment of its London offices and the appointment of nine lawyers to the partnership, including two lateral hires, during the year.

He added:”These investments form part of our clear strategy, which is designed to further strengthen our position in the market as one of the UK’s independent elite firms.”

M&A partner Patient took over as managing partner in January 2015, after Andrew Lilley stood down following two terms in the role.

Key mandates for Travers Smith during the year included advising on its planned initial public offering, acting for private equity firm Bridgepoint in its sale of restaurant chains Zizzi and ASK Italian and acting for the management of the media website Gorkana in its £200m sale to Cision.

In April Travers acted for UK set top box maker Pace on its $2.1bn (£1.4bn) sale to Arris Group.