Sparke Helmore Lawyers and Jarman McKenna could enter a merger agreement by the end of the year, having signed a term sheet to secure three months of exclusivity while they enter formal merger discussions.
Sparke Helmore, a firm of more than 650 people with eight offices across Australia, specialises in insurance, corporate and commercial, construction, workplace, IP, IPOs, mining, manufacturing, property and procurement.
Perth-based Jarman McKenna is a specialist boutique insurance litigation and general commercial law firm.
Sparke Helmore's Chairman of Partners, Mark Hickey, said of the potential merger: "As part of our renewed growth strategy we are constantly looking for opportunities to improve the service we provide to our clients. Joining forces with Jarman McKenna's strong team of insurance litigators will bring in new expertise, which will be hugely beneficial for our clients. Merging our firms would enable us to enhance the services we provide in Western Australia, as well as increase our national insurance capability."
"The insurance litigation market in Perth and across Australia has become increasingly competitive. Sparke Helmore is an established and reputable firm that shares our values and ambitions, so it makes sense to explore this opportunity, which would expand the offering we provide and greatly benefit our clients," adds Piet Jarman, Jarman McKenna Founding Partner.
Discussions and due diligence are expected to continue through to November.