UK law firm TLT has reported an 11% increase in turnover to hit £110m as it kick starts an ambitious new strategy to 2025.
The new four year roadmap will see the firm accelerate the development of its UK offer and its wider international network as it continues to build on a decade of rapid growth, targeting turnover in excess of £140m by 2025.
With a focus on anticipating and delivering against future client need, the strategy prioritises transforming the way the firm delivers for clients. This will be through initiatives such as its FutureLaw programme and the further development of legal and near law capabilities. Investment will continue across its seven sectors, which include clean energy; digital; financial services; leisure, food & drink; public sector; real estate and retail & consumer goods.
The firm’s new strategy will deliver a progressive workplace agenda, with market leading sustainability. Equality, diversity, inclusion and wellness remain central to TLT’s plans and are a core pillar of the new strategy. The firm’s recent announcement of a multimillion pound investment in its tech platform and offices to support a shift to a fully flexible working environment are part of that journey.
The new strategy has been launched to all colleagues at the firm through a series of webinars and after consultation with partners, staff and clients. It builds on the firm’s sustained organic growth as it has expanded across the UK to build its expertise and service offer.
John Wood, managing partner at TLT, commented: “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. This has been my first year as managing partner, and I am proud of everyone at the firm’s efforts to make this result possible by supporting and delivering for our clients time and time again throughout the year.
“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 as true business advisers. That includes providing non-legal support on both the sustainability agenda and how best to rise to the challenges all businesses face around EDI and wellness.
“Our strategy prioritises continuing to build a flexible and open culture that meets what our people need from us to develop and progress their careers. We are ambitious and progressive and want the best talent. 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 last 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 US$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.