Scottish legal firm with 550 staff going for growth in Glasgow as income tops £44 million

The full-service firm, which operates from more than a dozen locations across Scotland, including Edinburgh, said it would continue to invest in its people and technology as it reported gross income of almost £44 million for the financial year ending May 31, 2024 - an increase of 16 per cent on the year before. Headline profits rose by 35 per cent to £12.4m, enabling ongoing investment in building a “scalable, sustainable business that is creating jobs in Scottish communities”.

In the past financial year, the firm appointed more than 80 colleagues, including 27 new roles across a range of legal and business service disciplines. Among its new hires were 16 trainee solicitors, and the firm has since appointed a further 16 trainees.

During the trading period, the firm launched its first office in Inverness. The premises opened with a team of 12 people including three partners. In Glasgow, Thorntons formally opened the doors of its first permanent office, following a long history of working with clients in the city, and is already eyeing further expansion.

Managing partner Lesley Larg said: “After market uncertainty in the first half of the financial year, we experienced strong growth and progression across the business, standing us in good stead following change across the sector including consolidation and the loss of firms that could not survive the headwinds.

“Our people are key to our positive growth trajectory. Their client-focused approach and longstanding relationships, in some cases spanning generations, set us apart in the marketplace.”

She added: “More than six months into our next financial year, we are experiencing rapid growth and have welcomed new partners and others to the firm to be part of our exciting journey. We have plans to expand in Glasgow and continue to seek opportunities with individuals and firms that align with our culture and outlook. As a fully independent firm with strong foundations in place, we are confident about the future and our role as an accelerator for Scotland.”

Headquartered in Dundee, Thorntons has 73 partners and employs more than 550 people. The firm’s solid performance last year was bolstered by a range of client wins including PortmanDentex, one of the UK’s largest dental care providers, while Thorntons grew its market share in some of Scotland’s fastest-growing sectors including life sciences, renewable energy and technology. Its corporate team advised on several key Scottish transactions including Eos Advisory’s investment in Cumulus Oncology, which is developing anti-cancer drugs.

Private client services grew by almost 9 per cent in the last trading period as the firm provided specialist advice to Scottish clients and “actively pursued” referrals from English and Welsh law firms that have clients with Scottish interests.

Following a strong year of trading and growth, the firm increased its industry accreditations including boosting its rankings in the Legal 500 and Chambers and Partners Guide. It also introduced what it describes as “industry-leading family friendly policies”.

166-year-old legal stalwart opens permanent Glasgow base and targets potential acquisitions