Broadfield will concentrate on mid-market private capital and corporate clients 

Growth plans include talent and firm acquisition in the US and Europe

LONDON, 22 July, 2024 -- Alvarez & Marsal Legal Services (AMLS) and BDB Pitmans have signed a Letter of Intent, agreeing to explore the creation of a new International law firm called Broadfield aimed at supporting mid-market private capital and corporate clients.

Broadfield will target rapid expansion through talent and firm acquisition in the UK and US markets with the aim of extending into continental Europe to create a new market-leading, full-service law firm. The individuals, teams and firms that join Broadfield will share common attributes, ambitions and an entrepreneurial mindset to navigate legal sector fee and cost pressures, while capitalising on opportunities. As a large international law firm, Broadfield will benefit from economies of scale as well as the ability to collaborate on cross-border client work. All Broadfield firms will retain their own governance – in accordance with their jurisdiction – and P&L, to best manage their business with respect to local market conditions.

Once formed, Broadfield will engage AMLS to provide management services to the new firm including technology, back-office services and strategic services for growth initiatives and will also assist in procuring investment capital for the growth of the firm. In addition, AMLS will explore opportunities for Broadfield to partner with A&M in certain service areas where appropriate for clients.

BDB Pitmans is a UK-based law firm advising mid-market private capital and corporate clients as well as charities, private wealth and the public sector. Its team of 420 experts specialise in infrastructure, real estate, energy, technology, and transport, supporting clients from offices in London, Cambridge, Reading and Southampton. BDB Pitmans benefits from longstanding client relationships that are underpinned by clear advice and practical solutions.

Peter Sacripanti, the Global Head of AMLS said: “Mid-market law firms are generally confined to domestic footprints. They have been facing pressures arising from increasing competition and increasing technology investment demands. Broadfield will have the scale, efficiency and technology to provide a superior service and enable investment in growth. Our objective is to assist Broadfield to build a major international law firm unlike any other in the market.”

Christopher Price, Managing Director and EMEA Head of Alvarez & Marsal Legal Services (AMLS), said: “BDB Pitmans has an outstanding track record and reputation in the market. Its infrastructure team is particularly well-regarded and is likely to be busy over the next few years as the new UK Government introduces planning reforms and unlocks investment. We are thrilled that BDB Pitmans has agreed to be the first firm to join Broadfield, and we are in active discussions with others.”

John Hutchinson, Managing Partner of BDB Pitmans, added: “Big law firms are pricing themselves out of quality work, yet mid-market firms are failing to capitalize on this dynamic due to structural headwinds. Broadfield is the answer to this problem. We are excited to be working with AMLS in building a compelling client offer that stays true to our heritage and the quality expertise that our clients expect, underpinned by a first-class operating model.”

About Alvarez & Marsal

Companies, investors and government entities around the world turn to Alvarez & Marsal (A&M) for leadership, action and results. Privately held since its founding in 1983, A&M is a leading global professional services firm that provides advisory, business performance improvement and turnaround management services. When conventional approaches are not enough to create transformation and drive change, clients seek our deep expertise and ability to deliver practical solutions to their unique problems. 

With over 10,000 people across six continents, we deliver tangible results for corporates, boards, private equity firms, law firms and government agencies facing complex challenges. Our senior leaders, and their teams, leverage A&M’s restructuring heritage to help companies act decisively, catapult growth and accelerate results. We are experienced operators, world-class consultants, former regulators and industry authorities with a shared commitment to telling clients what’s really needed for turning change into a strategic business asset, managing risk and unlocking value at every stage of growth. 

To learn more, visit: AlvarezandMarsal.com.

About BDB Pitmans: bringing clarity to complexity

We are BDB Pitmans, recognised for our market-leading expertise in infrastructure. We also specialise in real estate, energy, technology, transport as well as corporate and commercial matters, private wealth, employment, and public and charity law.

With offices in London, Cambridge, Reading and Southampton, we have a team of over 420 experts dedicated to making a clear and positive difference, with the legal precision we are known for.

To learn more, visit: bdbpitmans.com.