Xenith IP Group, the holding company for the Shelston IP business, today announced it had entered into a binding agreement to acquire the businesses and brands of the Watermark Group. With more than 90 across three offices in Australia, Watermark is one of the longest-established IP firms in the country. Xenith IP Group said they will maintain Watermark as a separate standalone entity.

In a press release, Stuart Smith, Xenith’s managing director, stated “Watermark holds a prominent market position within the Australian IP sector. We are very excited by the opportunity to work with Watermark and its existing team to grow the combined businesses under the Xenith banner. We are particularly enthusiastic about the strength of the strategic alignment, and the shared vision for future growth and development.”

“We believe the combination of Xenith and Watermark will bring considerable benefits and opportunities for our clients and our respective personnel. Watermark will maintain the commercially focussed style of IP service delivery that has become its hallmark, while our adjacent service lines present a highly complementary offering to Xenith. We look forward to joining Xenith and combining our shared traditions of service excellence and our deep legal, technical and business expertise” said Karen Sinclair, chair of Watermark.

Both Watermark and Shelston IP can trace themselves back to the firm of Edward Waters and Sons, set up in 1859.

Watermark will join a growing list of Australian firms that are listed on the Australian Stock Exchange, either as part of a group or as single entities, including Slater & Gordon, Shine Lawyers, and IPH Limited’s Spruson & Ferguson, Fisher Adams Kelly Callinans, and Pizzeys.