Leading regional law firm for businesses Muckle LLP has praised the fantastic support of its people, clients and suppliers as it reported another record-breaking year of increased turnover and profitability.
Muckle LLP, which has its headquarters in Newcastle and a regional hub in Penrith in Cumbria, recorded a turnover of £16.3million up to March 2023, representing 14% growth compared to 2022. It is the law firm’s second consecutive year of double-digit growth.
Managing Partner Jason Wainwright puts the company’s success down to its open, people-led culture, its focused growth strategy, which began in 2020, its continued expansion in Cumbria, exceptional client service and commitment to its people, clients and communities.
Muckle LLP continued its expansion and strong footprint in its Agriculture and Rural Estates team, recording a number of significant client wins, as well as fantastic growth in all teams. Particularly pleasing was the growth in Banking (45%), Construction (44%) and Disputes teams (30%) which delivers against the legal firm’s diversification strategy.
When it comes to the bottom line, Muckle LLP delivered increased profits of 15% on the financial year 2022.
Its Corporate team was named Experian’s Most Active Dealmaker of 2022 in the North East and 11th in the UK. Muckle LLP was also recognised as Business of the Year in Northumberland and Tyneside at the North East Business Awards.
Muckle LLP was awarded an Investors in People Platinum award in November 2022, ranking 2nd in the world for law firms of its size. It won the North East Business Awards Best Place to Work and Excellence in Organisational & People Development at the North East HR&D Awards for Excellence in Organisational & People Development.
The Real Estate team won Property Law Firm of the Year 2023 for the third time since 2017 at the Insider Property Awards, and its Corporate team was recognised by regional peers with wins at the Insider Dealmakers Awards in September 2022 winning Deal of the Year in both Sub £10m and PE/VC categories.
Muckle has 14 nominations for the 2023 Awards – including Corporate Law Firm of the Year and two nominations for Corporate Lawyer of the year for Adam Rayner and Stephanie Brown – with Stephanie also picking up the award for Young Lawyer of the Year at the Insider Young Professionals Awards in November 2022.
Managing Partner Jason Wainwright said: “We absolutely believe that our values and culture, which underlies all that we do, helps us to deliver a strong and productive workplace for our people, enables our consistently excellent client experience and underpins our ability to hit our targeted growth trajectory.
“Our business grew in size and capability in 2023, with an additional 15 employees, including some senior investments into some high growth teams, such as Charities and Agriculture and Rural Estates, as well as our new hub in Cumbria. We have also continued to invest into our home-grown talent with six promotions at the start of 2023 including three to Partner in our Agriculture & Rural Estates, Real Estate Disputes and Sports teams respectively.
“Our investment into the communities in which we live and work continues through our Muckle Community Fund where we have supported over 700 charities with over 692 grants adding up to in excess of £650k since its inception in 2002.
“We were pleased to expand the geographic footprint of our awards, making grants to charities supporting families and young people in Cumbria. We continue to encourage our people to support our ESG strategy and, this year, have seen such diverse activities as litter picking in Leazes Park, working at the West End Foodbank and taking on the Lakes 3000 challenge raising in excess of £12,000 with the generosity of our contacts and clients. We were honoured to accept a Shared Value Award from Oasis Community Housing for our continued support of homelessness in the region as well as our recent win of the North East Chamber of Commerce Award for Community Business of the Year.
“Reflecting on the past 12 months, we are proud of our continued and consistent financial and business achievements and the leadership role we play within the North East and Cumbria, its businesses and communities. We are the different kind of law firm that we strive to be.
“Looking forward, we are pleased to report that our momentum continues and our turnover is 8% up on Q1 on the same period in 2022. We have a strong team with some exciting building blocks for continued growth, innovation and profitability in place for the future which we look forward to with confidence.”