Legal firm Mason Hayes & Curran increases revenues by 20%
Firm added 75 staff as its revenue rose by €12m for the second year running
Declan Black, managing partner at Mason Hayes & Curran: “I don’t think growth of 20 per cent a year is sustainable. I’d be very pleased with single-digit growth this year.” Photograph: Eric Luke
Leading Irish law firm Mason Hayes & Curran increased its revenues last year by 20 per cent to €72 million, following strong activity across all of its business units.
This is the second year in a row that the firm has increased its revenues by €12 million, equating to a growth rate of 50 per cent over the two-year period.
The firm also added 75 new staff across the business last year in response to increased workflows, bringing its total headcount to 420 people.
Managing partner Declan Black said the double-digit revenue increase was the result of providing consistently high levels of client service, and the improving economic conditions in Ireland.
“ Like the country as a whole, we benefited from an increase in confidence and in transaction volume both locally and internationally, including a 50 per cent increase in M&A [merger and acquisition] deals year on year,” he said.
Commenting on the firm’s prospects for 2016, Mr Black said: “I don’t think growth of 20 per cent a year is sustainable. I’d be very pleased with single-digit growth this year.”
Mason Hayes & Curran’s strong growth has resulted in adding space at two locations close to its head office on Barrow Street in Dublin.
Mr Black said it was looking to secure a larger office of about 120,000 sq ft to accommodate all of its staff. “We are currently engaged in a search for a new premises but the timeframe would be 2½ to three years,” he said.
Among corporate transactions, the firm advised Activision Blizzard on its $5.9 billion offer for King Digital Entertainment, acted for Credit Suisse Securities and Goodbody Stockbrokers as joint global co-ordinators of the €400 million IPO of Cairn Homes on the London Stock Exchange, and worked with Deutsche Bank on the €1.4 billion offer by IAG for Aer Lingus.
Its financial services division represented Permanent TSB on the €500 million Project Connacht sale to CarVal, and acted for Lone Star on Ulster Bank’s sale of the Project Clear portfolio.
On dispute resolution, it represented Teva Pharmaceuticals in proceedings seeking the revocation of a blocking patent for a blockbuster drug.
It also represented American investors against the Democratic Republic of Congo and Congo Airways on the enforcement of a multi-million dollar award, and acted for the management company of Longboat Quay in Commercial Court proceedings relating to issues around fire safety at the complex.