US law firm Milbank told Reuters in a statement that it will acquire the London private equity practice of Scottish corporate law firm Dickson Minto early next year.

The group departing Edinburgh-founded Dickson Minto is “one of the longest-established private equity teams in London” and advises fund managers, private equity shops and corporations, Milbank said.

New York-founded Milbank already has a large London presence, with more than 140 lawyers, according to its website.

Dickson Minto’s London office is joining Milbank and includes seven partners and about 20 associates, in addition to business professionals, a Milbank spokesperson said.

“It is a logical next step after our expansion in the PE space in the U.S., Germany and Asia,” Norbert Rieger, global head of Milbank’s corporate group, said in a statement.

The London-based private equity team joining Milbank is led by partner Jordan Simpson and was originally started by Dickson.

Dickson said there will “continue to be a close working relationship” between the Dickson Minto team in Edinburgh and the departing London group.

Dickson said in the statement he will work with Milbank to “help ensure a seamless transition.”

Milbank’s global head of corporate, Norbert Rieger, said: “The addition of this team will significantly add to our ability to act for clients around the globe on private equity related transactions.

“It is a logical next step after our expansion in the PE space in the US, Germany and Asia.”

Alastair Dickson, co-founder of Dickson Minto, paid tribute to the outgoing practice: “I am very pleased that the London private equity practice of Dickson Minto will join Milbank – the partners, lawyers and other staff have been a close-knit group for a long time and it’s extremely satisfying to see their desire to stick together and continue to grow as a group.

“The move will benefit our longstanding clients who will continue to receive the same high level of service from the same people but now combined with Milbank’s M&A and private equity practice in other jurisdictions as well as with the added advantage of its global expertise in a whole host of adjacent practice areas.”