05:53, October 23 69 0

2017-10-23 05:53:10
Wiggin makes IP play through London boutique takeover

Media and tech boutique Wiggin has merged with London boutique Redd, bringing its intellectual property offering up to 20 lawyers.

Redd, which was launched in 2004 by partners Sara Ashby, Simon Chalkley and Charters Macdonald-Brown, advises on the protection, enforcement and exploitation of intellectual property assets, including, breakthrough technologies, global brands, iconic designs and famous creative works.

The firm’s four partners, three consultant lawyers, three associates and two trademark and designs advisers will join Wiggin as part of this deal.

This would bring Wiggin’s partner numbers up to 33, while lawyer numbers will surpass the 60 mark.

Wiggin CEO John Banister said: “Wiggin devised an assertive growth strategy a few years ago that was focussed on our key markets – delivering innovative IP solutions is a critical component of this.

“Redd’s specialist approach, excellent lawyers and entrepreneurialism represents a real synergy with Wiggin and will enable us to provide a full IP offering to our clients. Redd is an immensely capable boutique and has an enviable reputation in IP law.  We are delighted to be working together.”

Wiggin, which this year ranked at number 109 in the UK 200 2017, saw a revenue rise of 21.5 per cent in the 2016/17 financial year. Last year’s revenue per lawyer stood at £373,000, 11.1 per cent higher than £336,000 in 2015/16 and continuing an upward trend on this metric in the past five years. Wiggin reported £8.7m of net profit, representing a margin of 40.3 per cent and 36.1 per cent up on £6.4m the previous year.