Sparke Helmore Lawyers says it could enter a merger agreement with Jarman McKenna, having signed a term sheet to secure three months of exclusivity while they enter formal merger discussions.
Perth-based Jarman McKenna is a specialist boutique insurance litigation and general commercial law firm.
Sparke Helmore chairman of partners Mark Hickey said the potential merger with the firm is part of Sparke’s renewed growth strategy.
“As part of our renewed growth strategy we are constantly looking for opportunities to improve the service we provide to our clients,” Mr Hickey said.
“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.”
Meanwhile, Piet Jarman, Jarman McKenna founding partner, said the potential merger comes at a good time given the insurance litigation market in Perth and across Australia becoming 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," he said.
Discussions and due diligence surrounding the potential merger are expected to continue through to November.