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MH&C saw €114 million turnover in 2023
Will Carmody

06 Feb 2024 / corporate law Print

MH&C saw €114 million turnover in 2023

Mason Hayes & Curran has again breached the €100 million milestone in revenue, with a 7% rise in turnover, from €106 million to €114 million in 2023.

Tech-sector work was particularly buoyant, driven by new legislation including the Digital Services Act, the Digital Markets Act and the highly anticipated EU Artificial Intelligence Act.

The firm advises Meta, Etsy, WhatsApp and LetsGetChecked.

The firm acted for Meta before the High Court and the CJEU in appeals to various decisions of the Data Protection Commission to fine Meta for infringements of the GDPR.

This included appeals against the decision relating to transatlantic transfers of personal data by Facebook, which resulted in a €1.2 billion fine against Meta.

Financial frameworks

Evolving financial-services legal frameworks in digital currency regulation, cybersecurity, and online data privacy also drove growth at the firm.

At-issue legislation included the Central Bank Individual Accountability Framework and the Markets in Crypto-Assets Regulation (MiCA), which comes into force this year.

The growth in life sciences and healthcare work continued, with regulatory changes including the enactment of the long-awaited Assisted Decision-Making (Capacity) Act.

Legal activity in the energy sector remained robust, with continued focus on renewables and offshore wind. The firm advises funders, investors and developers, with clients including SSE, Meta and Elgin Energy.

Commerical-property plateau

MH&C has said that some sectors of commercial property had reached a plateau, while the residential segment remained consistently active.

The proposed reforms to planning law generated strong work. as developers shaped future projects around it, with the new Planning and Development Bill expected to become law in 2024.

The firm’s London and New York offices have relocated with expanding teams, while Dublin office-space options remain under active review.  

During the year, 11 new partners were promoted, and seven new partners joined from other firms. Overall, staff numbers increased by 4% last year.

Managing partner Will Carmody commented: “The last 12 months were challenging for businesses and our clients.

“The continuing increase in the volume and complexity of national and European legal regulation meant that we worked closer than ever with our clients to navigate those challenges.”

Geopolitical uncertainties would continue to weigh on global trade and economic activity, Carmody added, but a levelling-off of interest rates might allow investors to return to market.

Sale of Institute of Education

Other MH&C transactions included:

  • Advising AIB on its participation in the Ukraine Credit Guarantee Scheme operated by the SBCI and backed by the Department of Enterprise, Trade and Employment,
  • Acting for Kearns family members on the sale of the Institute of Education to the British international schools’ group, Dukes Ireland Limited,
  • Advising Fingal County Council on procurement of a developer for 300 residential units, retail units, parks, community facility, crèche facilities, and associated site infrastructure at its Church Fields site in Mulhuddart,
  • Advising Greener Ideas Limited, a joint venture between Bord Gáis Energy Limited and Mountside Partners Limited, on two 100MW dual fuel-generation flexible power stations,
  • Advising SSE plc on the Arklow Bank Wind Park 2,
  • Advising Meta on its transaction to buy renewable power from solar farms Rosspile and Gillinstown, for its data centre in Clonee, Co Meath,
  • Advising Elgin Energy on the sale of 16 solar parks to Allianz Capital Partners.
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