Acquiring Fife-based law firm Pagan Osborne from administration helped leading Scottish law firm Thorntons grow its revenues by 13% last year.
Thorntons, whose headquarters are in Dundee, are one of the largest full service legal firms in Scotland with 53 partners and 445 staff.
Since 2014 the firm has undergone a series of strategic mergers and acquisitions, including purchasing Pagan Osborne in September 2017.
The latest financial results, for the year ending May 31, shows Thorntons’ turnover increased by £3.1 million to £27m. Profits rose from £5.1m in 2017 to £5.8m last year.
Craig Nicol, managing partner at Thorntons, said: “Our latest financial results represent our commitment to long term investment with a clear strategy for growth across the business.
“Pagan Osborne was certainly a significant acquisition and we have made considerable headway in the transition for colleagues and clients into our business.
“We view training and people development as key to achieving our goals and with continued investment we’ve grown the headcount across our offices by 10% in the past 12 months.”
Thorntons’ network of 13 offices includes sites in Dundee, Fife, Angus and Perth. The firm secured premises in Edinburgh last year.
“We remain committed to constantly looking to improve our client service and provide our clients across all our locations with a full service offering,” Mr Nicol added.
“Our business levels remain strong amid continued uncertainty in some of our markets.
“We are, of course, mindful of Brexit repercussions but we are confident that we have a stable platform and income mix from which to sustain our growth.
“Looking immediately ahead, we are investing in a multi-media brand campaign, including TV, across all businesses locations.
“We hope this will position Thorntons as the firm of choice for all legal needs.”
Thorntons snapped up solicitors and estate agents Pagan Osborne for an undisclosed sum on the same day the historic firm went into administration.
Pagan Osborne’s Anstruther office was rebranded as Thorntons while its Cupar, St Andrews and Edinburgh offices closed.
Meanwhile Thorntons has appointed Loretta Maxfield and Robbie Francis as new partners in its Dundee office.