The Merger of Two Leading Contract Lawyer Firms
from the official announcement
Advent Lawyers and Balance Legal to merge to form Australasia’s largest and fastest growing innovative legal services business
15 May 2012. Advent Lawyers and Balance Legal will merge on 1 July to form Australasia’s largest and fastest growing innovative legal services business. Both firms have a unique and new business model whereby their top tier experienced lawyers work directly in their client’s businesses on secondments and projects.
Advent Lawyers and Balance Legal were recently ranked as the second and fourth fastest growing firms in Australasia by Australasian Legal Business.
The combined firm, which will be known as AdventBalance, will have four offices in Sydney, Melbourne, Perth and Singapore. A fifth office in Brisbane will open later this year.
AdventBalance will have over 80 lawyers working throughout Australia and South East Asia on a completely flexible basis. Both firms have received significant press and praise from clients for throwing the billable hour out the door and using a completely fixed fee approach, ensuring clients have budget certainty and no billing surprises.
Ken Jagger will take on the role of Chief Executive, based in Perth, and John Knox will take on the role of Managing Director Asia, based in Singapore.
According to Ken Jagger “Advent and Balance have very similar and complementary businesses and a shared commitment to providing clients with a real alternative. AdventBalance will be able to provide unique opportunities for lawyers and a greater depth of resources and significant value and cost savings for clients.”
The combined firm’s growing client list is one that most large international law firms would envy and already includes multinationals, global financial institutions, a number of Australasia’s largest public and private companies and numerous start-ups and fast growing SMEs from a variety of different industries.
Phil Clark, the firm’s Chairman and former Managing Partner of both Mallesons and Minter Ellison, said “I have been involved with Advent Lawyers from the start and am very excited by what AdventBalance can achieve together. Both firms have a truly unique business model which is being very well received by the market.”
ALB reports that Balance Legal had revenues of $6.5 million in FY 2011 representing 52% growth. Advent had similar revenues and growth of 105%.