Andrew Leaitherland

DWF has seen a 10 per cent increase in group revenue from £133.4m to £146.8m and a two per cent increase in gross profit to £73.7m for the period to 31 October 2019.

It is to acquire RCD for up to €50.5m (£42.5m) in shares and cash, of which €7.4m (£6.2m) is payable in cash at completion with up to €15.5m (£13.1m) in deferred or contingent cash consideration.

RCD will add 40 new partners and about 400 people in total and the acquisition is expected to add to adjusted earnings per share in the first full financial year post-completion.

Andrew Leaitherland, group CEO at DWF, said: “I am delighted to welcome our RCD colleagues to DWF in another important step for the business. The transaction complements the group’s existing international offering and boosts our expertise and ability to support clients in Spain, and provide access to an extensive network of connections across the Iberian Peninsula as well as Latin America.”

Adolf Rousaud, co-managing partner at RCD, said: “Joining DWF provides an excellent opportunity to continue our growth and development, and we are very excited to be part of the group’s extensive international network which will give us a far broader geographic reach to support our clients.

“DWF is one of the most innovative legal businesses in the world, and what really attracted us was the cutting-edge approach to providing legal services, supported by leading people and technology. Our values and culture, as well as our strongly aligned sector focus, provide the ideal platform for our future success with DWF.”