Member Article

39% turnover growth sees Newcastle law firm amongst UK’s fastest growing

Newcastle-based Square One Law is amongst the fastest growing commercial law firms in the UK after reporting a soaring set of financials.

Revealing its results, for the year ending 30th April, the business’ turnover grew 39% to £5.3m. This follows year-on-year growth of 36%, averaged over the past three years.

A startup only five years ago, Square One now boasts has 15 partners and says it is working on building long-term, trusted relationships with its clients to continue its success story.

In addition to supporting its clients’ organic and strategic growth, the firm has a strong track record in transactional activity.

The firm completed 22 corporate transactions of over £500k during 2015/16, with a total value of £290m, whilst it reported 18 transactions each with a value under £500k.

Senior Partner, Ian Gilthorpe, explained: “The growth we have achieved demonstrates the strong position we have carved out for the firm in the market and the level of resource we can offer to our clients.

“We are delighted to be the fastest growing commercial law firm in the country, which is testament to our talented and highly-ambitious team and the support we receive from our fantastic clients and business partners.

“It’s also particularly impressive as it has happened in such a short space of time. We set out to transform the legal support available to business and business people in the North East, and our service offering has rapidly gained traction with high quality regional, national and international clients.”

Chairman, Alan Fletcher, added: “We are understandably keen to let the market know about the growth we have achieved and, of particular importance, the significant level of resource we can offer when compared to our competitors.

“In these uncertain economic times, our business continues to perform well and, at its half year, is slightly ahead of another ambitious budget.

“We are now making major investments in a new Microsoft Dynamix heart to our business as well as expanding our premises to support our future growth.

“Otherwise, we see this as a year of consolidation with the ongoing development of our people and a continued and fundamental focus on service delivery”