The Brief:
Ashurst closes its final full financial year before the Perkins Coie merger with record revenue of £1.15bn, up 11%, and PEP jumping 15% to £1.59m.
Australia delivers 10% growth, with Corporate Transactions up 25% and mandates spanning some of the country’s biggest deals.
Ashurst just wrapped its last full financial year as a standalone firm with its strongest numbers yet.
Revenue hit £1.152bn (A$2,195bn) for FY26, up 11% from £1.034bn (A$1,970bn) the prior year. Profit per equity partner climbed 15% to £1.592m (A$3.033m). That’s ten consecutive years of revenue growth, averaging 9% annually.
The results land just months before Ashurst combines with US firm Perkins Coie to form Ashurst Perkins Coie, with the deal expected to go live in Q3 this year. The first full financial year under the new banner won’t be reported until 2028.
Closing out our last financial year as Ashurst with a decade of consecutive revenue growth, averaging 9% annually, is a significant achievement and a testament to both the trust our clients place in us and the quality of our people. We are now on the cusp of our combination with Perkins Coie, and these strong results mean that we are well positioned from day one to continue our growth trajectory.
Revenue growth was broad-based. Every major region posted double digits:
Revenue Growth by Region
Then there’s Australia, which delivered 10% growth on a like-for-like exchange rate basis, with Corporate Transactions up a standout 25%.
That number isn’t an accident. Tony Damian crossed from HSF Kramer to Ashurst just over a year ago. The firm has been climbing the M&A league tables fast, moving from 11th to 4th on deal value in last year’s Mergermarket tables.
The mandate list backs it up.
Sembcorp Industries’ A$6.5bn acquisition of Alinta Energy.
Brookfield and GIC’s A$6.7bn buy of National Storage REIT.
Soul Patts’ proposed $14bn merger with Brickworks.
Global Chair Karen Davies said: “It’s great to see our last full financial year out with such incredible results across all our regions around the globe. We never take for granted the trust our clients place in us to deliver on their most important mandates and complex legal needs.”
Source: Ashurst