Law firm heralds a new era after year-long merger fails

Oct 7 2009 by Peter McCusker, The Journal

THE head of Newcastle law firm Mincoff says it is entering a new era after regaining its independence following a failed year-long merger with Jacksons of Teesside.

Howard Gold says news of the split has been welcomed by its long-standing clients and with its workload increasing the firm is looking to recruit new staff.

The Mincoff senior partner said: “The reaction has been brilliant with many of our clients getting in touch to wish us luck. The firm has been in existence for over 60 years and we intend drawing a line under the last year to enter a new and exciting era.”

In recent days Mincoff’s has been instructed to advise on a potential stock market listing by a North East business and the purchase of £16m of commercial property for a second client.

Mr Gold continued: “We are fortunate to have had many of the same clients for over 40 years. This is something we are very proud of.

“We will now focus on the things we do well. Corporate and commercial work are our strengths and with signs the market is now improving we are looking to match the £4m turnover achieved in the year before the merger. We are going to have to recruit more solicitors to achieve that, and we already have had approaches from two wanting to join us.”

Mr Gold was not prepared to elaborate on the reasons behind last week’s split but nebusiness understands the practices had different cultures and after a while it became apparent they were “incompatible” partners.

When the Newcastle and Stockton firms split they issued a statement from Mincoff Jacksons managing partner Nigel Kidwell. “The Tees Valley and Newcastle offices of Mincoff Jacksons have been affected by the economic downturn in different and unforeseen ways, changing the aspirations of each party over the course of the last year,” it said.

“Both sets of partners agree that it is in the best interests of both parties, their staff and their clients, to move forward as separate businesses with their respective high reputations built up over many decades.”

The merger had established the new firm as one of the top five in the region alongside Dickinson Dees, Eversheds, Watson Burton and Ward Hadaway.

One of the reasons given for the merger was that the extended range of specialists in the larger firm would be able to attract additional clients such as local authorities.

At the time of the merger in October, 2008, Mincoff had a turnover of around £4m and employed 32 solicitors including eight partners.

It now has five partners and 15 solicitors. Jacksons, which is over 130 years old, was the larger firm with 13 partners at the time of the merger.