Sickly Scottish firm Dundas & Wilson is to merge with CMS Cameron McKenna. And just in time for Christmas, too. God bless us, every one.
The merger will go live on 1 May 2014, when D&W will be absorbed into the slightly unusual CMS network of firms. Dundas staff first realised that something might be up on Tuesday when, with no explanation, the London partners rushed off to Scotland en masse for an emergency vote. Management apparently hoped that no one would notice the complete absence of the entire partnership.
Profits at stricken D&W have fallen 21% this year, while most of its trainees have had their training contracts deferred and only three jobs were offered to 11 qualifying trainees. And when the firm made staff redundant, its Chairman joked that it wasn't as if he'd taken them out and shot them. Before having to issue a grovelling apology. D&W was unable to get Bircham Dyson Bell to save it, and it's not entirely clear why Camerons (which has had a decent year with profits up 4.5%) wishes to step in.
But it has. CMS Cameron McKenna Energy, Projects & Construction Practice Group Manager Stephen 'longest name badge at the party' Millar said there were "strong and compelling client synergies" between the firms (translation: expect redundancies).
Caryn Penley and Allan Wernham, Co-Managing Partners of Dundas & Wilson, said that together the firms would have “unrivalled strength and depth in Scotland, an exceptional UK platform and global reach,” before coughing weakly and taking a blast of their inhalers.
Tip Off ROF
The merger will go live on 1 May 2014, when D&W will be absorbed into the slightly unusual CMS network of firms. Dundas staff first realised that something might be up on Tuesday when, with no explanation, the London partners rushed off to Scotland en masse for an emergency vote. Management apparently hoped that no one would notice the complete absence of the entire partnership.
Profits at stricken D&W have fallen 21% this year, while most of its trainees have had their training contracts deferred and only three jobs were offered to 11 qualifying trainees. And when the firm made staff redundant, its Chairman joked that it wasn't as if he'd taken them out and shot them. Before having to issue a grovelling apology. D&W was unable to get Bircham Dyson Bell to save it, and it's not entirely clear why Camerons (which has had a decent year with profits up 4.5%) wishes to step in.
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But sir, what is to become of |
But it has. CMS Cameron McKenna Energy, Projects & Construction Practice Group Manager Stephen 'longest name badge at the party' Millar said there were "strong and compelling client synergies" between the firms (translation: expect redundancies).
Caryn Penley and Allan Wernham, Co-Managing Partners of Dundas & Wilson, said that together the firms would have “unrivalled strength and depth in Scotland, an exceptional UK platform and global reach,” before coughing weakly and taking a blast of their inhalers.
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I can also picture the CEO and Board of MMS collectively kicking the cat (or the nearest trainee) as another possible sugar-daddy pairs off with a more attractive damsel in distress.
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as they say in Scotland:-
Get it up ye!
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"It is interesting that the management of both McGrigors and Dundas & Wilson succeeded in Top 20 firm takeovers by other firms."
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Merging with Birchams would have been of greater benefit to Birchams than top D&W
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Sad times for those involved and in typical DW style, terrible timing....
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Apart from this, that's about as good as it gets!
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I'm sure wernham & penley have sorted themselves out a new deal.
Happy Christmas ? For you it maybe.....
Bring back Donald 'are you' Shaw? Good times at least under him albeit his failure to please his Scottish colleagues.
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