Stewarts Law and Enyo call off £80m merger talks

London

Merger talks between specialist litigation firms Stewarts Law and Enyo Law have been called off.

Stewarts Law confirmed today that the early-stage discussions had ended, with both firms choosing not to continue the talks.

Had the merger gone ahead, it would have created a specialist disputes firm with combined revenue of more than £80m.

Stewarts Law posted turnover of £62.4m in 2015-16, while 14-partner Enyo recorded revenue of £20.7m in 2015-16, up from £15m the previous year.

The smaller firm was only founded in 2010 by an 11-strong team from Addleshaw Goddard, led by partners Simon Twigden, Pietro Marino and Michael Green.

In a statement, Stewarts Law said: “Following very preliminary and exploratory discussions, both firms have decided not to pursue matters further.”

The firm’s managing partner, John Cahill, said: “Our preference is to continue down the path of organic growth and selected lateral hires. Our record growth over the last five years has been impressive and has not been driven by merger or acquisition.”

He added that the firm planned to expand its commercial disputes offering as a priority, and anticipated making a number of lateral partner hires during the next two years.

In October 2016, Stewarts Law hired Herbert Smith Freehills advocacy head Ian Gatt QC as a partner in its commercial disputes group.

Enyo Law did not respond to requests for comment. The boutique, which in 2012 hired two partners from Nabarro – George Maling and Peter Fitzpatrick – specialises in contentious work across a range of sectors and was set up to capture work that would present conflicts for major international firms.