Thomas Cooper and Penningtons Manches join forces
A recently completed merger between the UK marine industry legal business, Thomas Cooper LLP and the Penningtons Manches will bring definite benefits to the former’s Yacht and Superyacht team, IBI has been told. The combined company will be called Penningtons Manches Cooper.
Sarah Allan, a partner at Thomas Cooper and head of its Yacht Team, told IBI: “I do think this is a very exciting opportunity for the firm as a whole, but specifically the yacht practice which is my specialist area. We will continue to be the same niche and international team covering all aspects of yachting from insurance, operations to sale and purchase and build, but we will now be able to offer wider services - by way of example wealth and technology.”
London-based Thomas Cooper has been serving the marine industry since 1825 and for several years it has had a team meeting the particular needs of the yacht and superyacht sectors. Allan explained to IBI that the merger brings together the marine expertise and international spread of Thomas Cooper with the particular technology skills and experience of Top 50 UK Law firm, Penningtons Manches.
With the superyacht section becoming increasingly focused on technology, Allen sees the expertise of Penningtons Manches and the international mix and marine knowledge of Thomas Cooper as beingly a timely and appropriate mix for the Yacht team in the future. Thomas Cooper has international offices in Paris, Madrid, Piraeus (Greece), Singapore and Sao Paulo.
Tim Kelleher, Thomas Cooper’s senior partner, explains: “Our international offices have done very well, attracting significant clients and undertaking increasingly complex work. However, over the last five years or so it has become apparent that, to be in a position to really take advantage of the new opportunities that come our way, we needed to scale up, and that the best way of doing so was to join forces with another firm.”
He added: “Penningtons Manches is a thriving business and we’ve been seriously impressed with the senior team’s vision and strategy throughout this process. Following the merger we’ll be able to utilise the increased resources and turnover, as well as a robust operational structure, to help facilitate further growth and innovation. Our clients will benefit from a wider service offering both in the UK and internationally – in particular, they will have access to skilled teams specialising in real estate, private wealth, corporate and project finance, immigration, tax and insolvency and restructuring.”
The Thomas Cooper Yacht Team offers a full range of related services that cover
- New build, refit and sale & purchase contracts
- Casualty response
- Finance and insurance
- Cyber crime
- Crewing and employment
- Management of yachts
- Dispute resolution
- Marina and yard liabilities
- Ownership structure and registration