CMS announces revenue of EUR 1.3bn for 2017
Brussels, 13 June 2018. CMS, the top 10 international law firm, today announces its financial results for 2017.
- Total annual revenues of EUR 1.3bn for 2017, a year-on year growth of 31%
- 47 new partners in global promotions round spread across 10 countries
- Ranked #1 for deal count across major European jurisdictions by Mergermarket
Cornelius Brandi, Executive Chairman of CMS, said, “2017 has seen a significant increase in revenue for the firm as we continue to expand globally into new territories and consolidate from a position of strength in our existing offices. As a global organisation with over 70 offices, we are well positioned to support our clients in their cross-jurisdictional business wherever they operate.”
Tom Heremans, Managing Partner of CMS Belgium, said: “The results show that our structure is very solid, enabling us to meet our clients’ needs both locally and internationally. Our strong position in the market as an international law firm ensures our continued growth.”
Already one of the largest international law firms, CMS further extended its geographic reach in 2017 with a new office in Monaco and through an association with Saudi Arabian firm Feras Al Shawaf in Riyadh.
Industry recognition is strong and another indicator of CMS's success. In addition to numerous prestigious national awards and rankings, it also received international recognition for its work. Highlights included:
- In October, CMS won the "Innovation in legal expertise: driving value" category at the Financial Times Innovative Lawyers Awards Europe 2017. The award recognised the work of the international CMS team, led by Pietro Graf Fringuelli (CMS Cologne), in advising the Electronic Sports League in creating a new governing body, the World eSports Association (WESA).
- CMS won "European Private Equity Legal Adviser of the Year 2017" while CMS France won "France M&A Legal Adviser of the Year 2017" at the Mergermarket European M&A Awards.
- 2017 was another successful year for the Corporate/M&A Group as CMS was ranked #1 (by deal count) in several jurisdictions in 2017 European league table rankings in Germany, CEE, Poland and the DACH region by Mergermarket; in CEE by Bloomberg and in Europe, Germany and Switzerland by Thomson Reuters.
A selection of international client mandates included:
- Advising HP Inc. on its USD 1.05bn acquisition of Samsung’s printer division
- Representing Enagas on its acquisition of Endesa’s stake in GNL Quintero
- Acting as legal advisor to BT Group on its multi-year content cross-supply agreement
- Advising Sunrise, the number two Swiss telecoms operator, on the sale of Swiss Towers for CHF 500m
- Representing Deutsche Bank and other creditors, including a consortium of US-based emerging markets hedge funds on the USD 1.1bn restructuring of the bank debt of DTEK
- Acting as legal advisor to Allianz on an insurance dispute arising from its coverage of EuroChem, a major chemicals producer and trader
- Advising SYNLAB on its acquisition of ALcontrol
- Representing Bayerische Versorgungskammer (BVK) and its fund manager Universal on the structuring of a series of open-and closed-end real estate funds. The focus was on investments in the Nordic countries as well as in Asia and Europe generally.
Cornelius Brandi commented, “Against a backdrop of geo-political uncertainty, markets have been volatile as investors continue searching for above average returns. However, with transactional data indicating that activity levels in 2018 have continued where 2017 left off, we expect another buoyant year for our clients.”