Theodores’ merger prospects revealed

CMS Cameron McKenna and Addleshaw Booth & Co have emerged as the UK firms Theodore Goddard has been advised to target for a merger.

Both firms are on a shortlist of suitable merger partners for Theodore Goddard, drawn up by its consultants Hildebrandt.

Lawyer 2B also understands that a Theodore Goddard management group including senior partner Paddy Grafton Green and banking partner James Ballingall have recently returned from a marketing trip to the US to look for merger partners there.

A source close to the firm said the group has been targeting New York-based firms with similar profitability to Theodore Goddard, which last year announced average profits per equity partner of 350,000.

Last month, the firm hired a crack squad of private investigators to snoop on partners who may be leaking details of the embattled firm’s potential merger targets. Partners are due to be told who any likely merger candidates are at the end of this month.