Wallace goes up in law firm rankings

Wallace has increased its presence in the annual guide, The Legal 500 UK 2009 – The Clients’ Guide to the Legal Profession.

The publication, which positions the UK’s top law firms in rankings that are divided by practice area and industry sector, raised Wallace to a higher level in the category, Corporate & Commercial: M&A. The firm also entered the Media and Entertainment rankings for the first time, and maintained its position in the tables for Property Litigation (including Leasehold Enfranchisement) and in two property subcategories: Commercial Property and Development. The editorial analysis which accompanies the rankings gave particular credit to partners Rex Newman and David Judah for their M&A expertise; John Woodhouse and Matthew Pryke, who are both very active in advising clients in the creative industries; and acknowledged Wallace’s “dedicated leasehold enfranchisement department” which recently acted for US private equity group Westbrook Partners in what is the largest collective enfranchisement claim to date. 
 

The rankings are based on client and peer feedback and are the culmination of months of research managed by a large team of journalists who closely study the legal sector and undertake a vast number of interviews, in order to compile rankings and editorial analysis which reflect the market as accurately as possible.

These results confirm Wallace’s belief that the firm is weathering the economic storm far better than many other firms. Wallace attributes this success to the firm’s strategic growth strategy, which has been to focus on the recruitment of commercially minded lawyers with an ability to help build the practice and grow the client base. The firm also has a strong emphasis on maintaining very close relationships with clients and getting 'under the bonnet' of a client’s business. This approach leads to a more intimate understanding of a client’s commercial needs and means Wallace often has an indispensable role in clients’ business activities.

The recognition in Legal 500’s media and entertainment category is a reflection of Wallace’s continued growth in this sector. Building on its existing client base in areas such as television production, computer gaming, music, hospitality, leisure, and modelling, Wallace now boasts a large number of clients in other creative industries such as sport, music management, event management, fashion, advertising, television and design. The firm also acts for the owners of many restaurants, nightclubs and bars. Wallace advises these clients on a range of legal issues, from providing advice on IP and brand development and protection, to assisting them with all commercial needs, including finance, corporate structures, trading agreements and often dispute resolution.

Matthew Pryke has been instrumental in building the firm’s media and entertainment practice and following his appointment as head of commercial and IP earlier this year, the firm has experienced sustained growth in other sectors including technology and telecoms. The team has built on its impressive client base to attract work from a large number of new clients, as well as being better able to serve existing clients and provide a broader range of services.

Wallace recently advised its established client Models 1 - the UK’s largest modelling agency - and global supermodel Yasmin Le Bon on the successful negotiation and structuring of the collaboration with Wallis, a member of Sir Philip Green’s Arcadia Group. The deal has attracted widespread attention in fashion and retail media and the new clothing line – titled YLB – has just hit stores this month.

Wallace’s relatively high level of corporate activity in the past twelve months, which earned the firm a higher ranking than last year, has been defined by a number of mergers and acquisitions which, in their respective industries, have often made headlines. The firm advised on the $411.5 million sale of the global TIGI professional hair products business and its supporting advanced education academies, as well as advising on a significant acquisition in the technology sector, where Wallace’s longstanding client ID Business Solutions, a leading data management company, acquired InforSense. The firm also advises Enic International, the majority shareholder in Tottenham Hotspur FC, and the Enic group of companies, on a range of corporate matters throughout Europe.   

Rex Newman, managing partner at Wallace, commented, “It’s encouraging to see that the market has noticed us as standing out in areas that we’ve been developing over the past few years. The improved ranking for M&A is evidence that Wallace is thriving despite the recession, and the new ranking in media and entertainment is well deserved, as the team has been working extremely hard and has done a fantastic job in building the practice and promoting the firm’s commercial and IP experience. 
 

“Our commercial property and property litigation teams have also reinforced their position in the tables and this helps solidify the firm’s position as experts on the London property market. This has been a good year for our property teams, as the firm was also short listed for News on the Block magazine’s London Enfranchisement Solicitors of the Year Award, in June.”