Exchange Street's Buist Moore, with roots going back to 1827, will join with largest N.C. firm

One of Charleston's oldest and largest law firms is merging with the biggest legal practice in North Carolina in a deal fueled in part by the coastal region's economy.

Buist Moore Smythe McGee will become part of Womble Carlyle Sandridge & Rice on April 30, said Henry B. Smythe Jr., Buist Moore's managing director.

The Exchange Street firm's name will change at the end of the month.

Terms of the merger, which is expected to be formally announced Monday, were not disclosed.

"As we look to the future and want to be the go-to firm for the big businesses coming to the Lowcountry, we felt we could not do better than Womble Carlyle," Smythe said Thursday.

The deal brings together two seemingly opposite Southern legal businesses: Buist Moore has 44 lawyers housed in a single location. Womble Carlyle, which is headquartered in Winston-Salem, has about 530 attorneys spread over six states. Its only South Carolina office is in Greenville.

Smythe said Buist Moore had a "great year" in 2010 and was not looking for a partner when Womble Carlyle officials came calling.

"We started talking with them, and we perceived the opportunities of a combined firm to be extraordinary," he said.

Despite their differences in size and scope, Smythe said the two firms bring different strengths to the deal. Buist Moore has maritime and construction practices that are attractive to Womble Carlyle, which has deep expertise in areas such as intellectual property, securities law and economic development.

"It was just a great fit," Smythe said. "The firms have similar cultures. We thought it would be the best thing we possibly do."

Womble Caryle has been looking to enter key coastal cities from Georgia to Delaware.

Keith Vaughan, chairman, said the firm was drawn to Charleston by the increasingly diverse and expanding economy. Among the draws: the Boeing Co.'s 787 assembly plant being built in North Charleston and the prospects for the region's port industry.

"We believe that Charleston, which already had good, strong economy, is transforming into a great economy," Vaughan said.

He described Buist Moore as the ideal merger candidate for Womble Carlyle. He said the deal will offer clients access to a broader base of legal services. He also said billing rates at Buist Moore are not expected to rise as a result of the merger.

The deal will mark the end of a venerable name in the Charleston legal profession. In November, Buist Moore marked the 40th anniversary of the merger that created its existing practice. But its roots go back much farther -- to 1827.

Reach John McDermott at 937-5572.