Revenues rise 18% at law firm Napthens
Law firm Napthens, which employs around 40 people in Liverpool, is reporting an 18% surge in full-year revenues. Tony McDonough reports
North West law firm Napthens says annual revenues are up 18% to £17.6m.
Napthens, which employs 40 people at The Plaza in Liverpool, is headquartered in Preston. It also has offices in Southport, Manchester, Kendal, Blackburn and Lytham. The practice employs around 300 people.
In an interview with LBN in June, Napthens’ Wirral-born chief executive Alex Hatchman said her ambition was to create a “Tesla law firm”. She added: “I want it to be an intelligent vehicle and use technology to better deliver our services to our customers.
Later in June it said it had recruited 35 people in the first half of 2022. The firm has doubled its presence in Liverpool.
The business says it has seen revenue growth across all its core service lines. These include property and employment. And its corporate, litigation, private client and residential conveyancing teams each recording double digit increases.
Napthens’ corporate team saw revenues rise 44%. It completed 50 transactions valued collectively at more than £600m. This was well ahead of the 32 transactions it completed in 2020 and 28 in 2019.
Highlights from the past 12 months include Bosch Building Technologies’ acquisition of Lancashire fire safety firm Protec Fire and Security Group, JD Sports Fashion’s acquisition of Wheelbase Lakeland.
Residential conveyancing saw a 23% revenue increase amid a boom in the residential property market over the past two years. As well as greater demand for its services, the practice formed new relationships with more than 30 estate agents and brokers.
Outside of its commercial work, Napthens’ private client team – providing personal legal advice on matters such as divorce, wills and estate planning, and probate – increased revenues by 17%. The dispute management team saw a 14% increase.
Alex Hatchman said: “In my first four months with the firm, I have seen people from every department go above and beyond to develop meaningful relationships with clients and each other. Although revenue only tells a part of the story, it certainly reflects the hard work and dedication of the Napthens team.
“I’ve no doubt we will continue to see more success in the years ahead, as we get even closer to our clients and continue to adapt the way we work to support them.”