Four-year growth strategy announced by TLT after annual revenues climb by 11%

July 30, 2021
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Bristol-headquartered national law firm TLT is to accelerate its growth in the UK and overseas, including providing non-legal support to clients in areas such as sustainability, diversity and wellness,  after posting a 11.3% increase in its annual revenues to £110m.

Its expansion over the past 12 months – its second double digit growth in two years – was achieved despite the unprecedented challenges triggered by the pandemic and means since its revenues have more than doubled in eight years. 

TLT, which has more than 130 partners and employs around 1,150 people across its seven offices, said pushing turnover above £100m for the first time in the firm’s history meant it could now kick-start what it called an ambitious new strategy to 2025.

This four-year roadmap would accelerate the development of its UK offer and its wider international network, it said, and continue to build on a decade of rapid growth by targeting turnover of  £140m-plus by 2025.

The new strategy also meant building a “progressive workplace” agenda, its said, with market-leading sustainability.

Equality, diversity, inclusion and wellness would remain central to its plans and were a core pillar of the new strategy.

The firm’s recent announcement of a multi-million pound investment in its tech platform and offices to support a shift to a fully flexible working environment were part of that journey, it said.

It will also build on its significant experience and strong track record of consistent growth in advising organisations in the clean energy, digital, financial services, leisure, food & drink, real estate, retail & consumer goods and public sectors, the firm has a driven by client need.

While there will be a focus on anticipating and delivering against future client need, the strategy prioritises transforming the way the firm delivers for clients through initiatives such as its FutureLaw programme, which is driving change in the way it delivers legal services and products to clients, including focusing on developing areas such as LegalTech and near-legal consulting. 

TLT managing partner John Wood – who was appointed to the role in April last year – said TLT would become “true business advisers” to clients to support them with wider macro issues including providing non-legal support on the sustainability agenda and how best to rise to the challenges all businesses face around equality, diversity, inclusion and wellness.

Mr Wood, pictured, added: “We ended the last financial year in a very strong position, having adapted quickly to the challenges of the pandemic – particularly in the first quarter.

“We’ve worked hard to help clients manage the uncertainty and continuous change, as well as constantly looking forward to the challenges and opportunities that may lie ahead for their organisations.

“Growth has been consistent across all our services, sectors and locations – although each of our sectors have faced very different challenges triggered by the pandemic and the ongoing disruption that it has accelerated.

“Clients rightly continue to expect more from their lawyers and our new strategy is about meeting that need – whether through our legal advice, transforming how we deliver services or supporting clients with the wider macro issues they face.”

He said the firm’s strategy prioritised continuing to build a flexible and open culture that met what its people needed to develop and progress their careers.

“We are ambitious and progressive and want the best talent,” he added. “That means providing an environment where people are trusted to deliver and have the tools and environment to thrive. Our recent move to fully flexible working is an important part of our work in this area.

“Pandemic aside, breaking the £100m revenue mark is another significant step forward in our journey of continued and sustainable growth. But we aren’t even close to done yet and, with our new strategy, will focus on looking ahead and delivering an outstanding service for our clients.”

Over the past year TLT has been re-appointed to the Sainsbury’s legal panel and secured roles on the Vodafone legal panel and UK government’s newly established trade law panel. The firm has advised on landmark client matters including a £197m fundraise and multiple brand acquisitions for Boohoo, a $239m debt judgment for IDBI Bank, and a multi-million pound funding by Santander UK for the construction and operation of what is anticipated to be the largest battery storage plant in Europe.

As well as its Bristol headquarters TLT also has offices in London, Manchester, Glasgow, Edinburgh, Belfast, and Piraeus in Greece.

The firm’s international network includes strategic alliances with Dutch law firm Holla and Belgian law firm GSJ.

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