Mason Hayes & Curran’s turnover rises 8% to pass €100m milestone – The Irish Times
Irish law firm Mason Hayes & Curran topped the €100 million revenue milestone for the first time last year after posting 8% growth.
Results provided to The Irish Times show the company’s revenue rose to €106m in 2022, from €98m a year earlier. The number of partners increased from 93 to 106 while the total number of employees increased from 538 to 570 as work for domestic and international clients increased.
Looking to the current year, newly appointed managing partner Will Carmody said MHC expects revenue to grow between 7% and 9%.
“Looking at the early numbers, it’s pretty consistent with the equivalent period last year, so we would be confident and expect that we will see high single-digit growth again this year,” he said. “Of course, we are paying close attention to all the economic indicators, but we are not so worried that we cannot develop the activity this year. We are planning a budget of 7 to 9% [growth] range this year. It’s ambitious, but you have to be ambitious.
[ Mason Hayes & Curran names Will Carmody as managing partner ]
[ Law firm Mason Hayes & Curran posts 23% surge in fee income to €98m ]
Mr. Carmody also wants the company to strengthen its presence in London, New York and San Francisco, where it already has a presence. “Our international focus is something that I hope we can continue to expand. We see a lot of opportunity for the firm there and that’s a counterpoint to the arrival of a number of law firms international in Ireland We would like to expand our membership and level of activity in each location.
The company is also looking at its office accommodation options in Dublin, including either additional space to complement its current location on Barrow Street in Dublin 2 or a new consolidated head office.
Looking back to 2022, the company said there was “particularly strong growth” in financial services work in structured finance, transactional work such as the sale of loan portfolios, and international and domestic finance. .
The main transactions involved advising AIB on the sale of a portfolio of non-performing loans known as Project Sycamore to a consortium led by Cerberus and LCM partners. She also acted for Citibank as agent for a syndicate of banks, in connection with a $28.5 billion senior unsecured bridge loan facility for Amgen used to pay part of the cash consideration for its €26.8 billion acquisition of Horizon Therapeutics.
Work in the technology sector has also increased. He advised Meta Instagram and WhatsApp subsidiaries on regulatory commitments in the European Union and various GDPR compliance issues. He also advised on the sale of Kinzen to Spotify.
[ Data Protection Commission fines WhatsApp additional €5.5m over GDPR breach ]
MHC also had a busy year in life sciences and healthcare. He advised the National Maternity Hospital, Holles Street, on its €300 million co-location project on the campus of St Vincent’s Hospital in Dublin 4. The firm also assisted Biohaven Pharmaceuticals on Irish law aspects of certain matters, including the sale of its migraine business to Pfizer in a transaction valued at $11.6 billion.
[ Pfizer to buy biotech group BioHaven for €11 billion ]
The energy sector has generated “significant levels” of legal work, with a focus on renewable energy. He advised SSE on all aspects of the offshore lease, approval, development and procurement of Phase II of the Arklow Bank Wind Farm.
In real estate, there was a “high level of transactional activity”. The firm advised TikTok on one of the largest office rental transactions in Ireland in recent years, and acted for BNP Paribas REIM in the acquisition of Staycity Aparthotel and the sale of Airbnb’s head office at Hanover Quay in Dublin 2.
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