7% Revenue Growth in 2024

We have released details of our turnover for 2024, with increased growth of 7% to €122 million.

Our international presence also expanded in line with enhanced client needs, with all international offices increasing headcount during the year. Overall, the firm grew staff numbers to over 650, including an additional 7 new partners.

“To be an independent, domestic firm now you have to be able to grow to a scale that delivers the breadth of sophistication of services that clients demand, and also to compete for the best staff. You have to continue to grow quite significantly to be able to do both of those things and our turnover results demonstrate this expansion”.

Key drivers of this significant growth included renewed investment activity as macroeconomic factors such as interest rates and inflation improved, helping to boost valuations and drive merger and acquisition activity. Stand-out transactions included advising WaterWipes on 3i’s €145 million investment and LetsGetChecked on its successful acquisition of the digital pharmacy platform, Truepill.

However, a major challenge for clients during the year was adapting to the unprecedented volume of legislative change, with 48 pieces of legislation and over 700 statutory instruments enacted by Government. No industry was immune from change and supporting clients required extensive cross firm collaboration to advise across all developments.

Managing Partner Will Carmody commented:

"Insights from our recent Business and Legal Sentiment Survey reveal that almost half of our clients, 48%, are optimistic about the year ahead. However, the sheer volume of legislative reform has posed significant challenges for many organisations.

The EU Commission’s recent pledge to slash red tape and legislative complexity as part of its bid to make Europe more economically competitive is timely. The Commission’s initiatives to boost competitiveness and productivity will be essential to ensure that European innovation can compete on the global stage and achieve increased growth and productivity.

At Mason Hayes & Curran we will be working closely with our clients to support them in implementing these changes for their businesses and navigate these challenging times. Our teams are actively providing bespoke advice to optimise business operations while mitigating legal, financial, and geo-political risk.”

Technology at the Forefront of Legal Change

The technology sector experienced wide-reaching regulatory challenges with the firm advising leading global companies and high profile new organisations on the development and deployment of Artificial Intelligence systems, cyber security, and data protection. In addition, the firm continues to act for Meta and WhatsApp on high-profile regulatory and litigation matters within the EU, maintaining their leadership in the tech legal space.

Renewable Energy and the Green Transition

Ireland’s green transition drove substantial investment in renewable energy, but the capacity and sustainability of the national grid remains a critical issue for clients. Work in the sector included advising SSE Renewables on its onshore wind joint venture with Bord na Móna, as well as Bord Gáis and Mountside Partners on a dual-fuel generation power station. Both deals underscore the growing collaboration between the public and private sector in the energy industry.

Financial Services and Evolving Regulation

The financial services sector continued to evolve, spurred by growth in fintech and cryptocurrencies, as well as key legislative changes like DORA and SEAR. Traditional banking also performed strongly, with the firm acting as sole legal advisor to PTSB on the €348 million sale of a non-performing loan portfolio.

Healthcare and Life Sciences

Health and life sciences continue to thrive as the cornerstone of Ireland's economy, supported by robust investment and evolving regulation. Major matters for the firm included EU product regulatory advice to Google LLC during the development and launch of its groundbreaking Loss of Pulse Detection feature, highlighting the firm’s expertise in this critical sector.

Built Environment

High demand and continued investment were the hallmarks of the built environment sector over the last year. The combination of the programme for Government and new planning laws will underpin new developments with a strong focus on infrastructure and housing. The firm recently acted for Finglas Regen Limited on its acquisition of two major residential development sites.

Commitment to Corporate Social Responsibility

Corporate social responsibility is a core pillar of our ethos. We invest up to 1% of our annual turnover in CSR initiatives, including the completion of the €1.2m Engage and Education Fund in November. We plan to further increase funding for CSR activities in 2025.

Looking ahead Managing Partner Will Carmody commented: “We expect the pace and complexity of change to intensify, particularly as global dynamics, including changing policies in the USA, continue to unfold. As a firm, we are focused on equipping our clients to stay agile and proactive, ensuring they are not only prepared to respond, but are also positioned to seize opportunities and compete in a rapidly evolving landscape."

Read the coverage of our turnover results in The Irish Times and, if you’d like to join our growing team, explore our current vacancies.