ShepWedd pays bonuses as turnover rises to £67m

The Haymarket Edinburgh development

Scottish-headquartered UK law firm Shepherd and Wedderburn has reported 7% turnover growth to £66.7 million for the year to April 30, 2023, the sixth year of consecutive growth.

Net profits — before partner distributions — grew 3% to £27.1 million.

The firm also announced in July, in recognition of the firm’s performance, that staff would receive an exceptional bonus of 5% of their annual salary.

Shepherd and Wedderburn has offices in Edinburgh, Glasgow, Aberdeen, London and Dublin.

“The firm saw strong revenue growth across all divisions,” said Shepherd and Wedderburn.

“Core areas of growth have included clean energy; real estate, housebuilding and infrastructure; financial services and technology as well as from the expansion of the firm’s market-leading private wealth and rural teams following investment made in those areas in recent years.

“In May, Shepherd and Wedderburn relocated its Edinburgh headquarters to the new Haymarket grade A office development, creating a premium, easily accessible space that promotes connectivity for both clients and colleagues.

“The move aligns with the firm’s broader goal of achieving net-zero greenhouse gas emissions by 2030.”

The firm said notable deals over the year included:

  • Advising Mangata Edge with concluding investment documentation for a significant manufacturing facility at Prestwick Aerospace Park, part of Scottish Enterprise’s participation in the Ayrshire Growth Deal
  • Advising Moray Offshore Windfarm (West) Limited in relation to various aspects of the £2 billion project financing of its 882MW offshore wind project
  • Advising Crerar Hotel Group in connection with the sale of the company to Blantyre Capital and Fairtree Hotel Investments
  • Advising Assured Guaranty on its wrap of a £210 million bond issue for Glasgow City Council
  • Advising Taylor Wimpey on the landmark Greater Blindwells development which is estimated to deliver over 6,000 new homes in East Lothian
  • Advising IMPACT Scotland on the new concert hall in Edinburgh
  • Advising BAE on its Bishopton development, creating more than 4,000 residential units, one of the largest brownfield regeneration sites in Europe

Andrew Blain, Managing Partner of Shepherd and Wedderburn, said: “I am pleased to announce another year of strong financial growth in what has been a constantly shifting and challenging environment.

“By continuing with our planned programme of strategic investments, we have enhanced the strength and depth of key practice areas and further developed the technology solutions to help us to serve our clients better.

“As we look ahead to 2023/2024 and the final year of our three-year strategy, we are pleased to note that our approach has proven to be strong and resilient, with growth and continued progress towards our goals.

“I am grateful to my colleagues for their consistent dedication to providing high-quality service across the firm. Additionally, I would like to thank our clients for their continued trust in us and we remain committed to providing exceptional support as we move forward together.”