Interesting to see this happen – not just because of the money, but for the added expertise and objective commercial perspective on the management board. All part of the trend and good for us (and our clients) as we are seeing more legal practices recognise that working this closely with people like us can help open up new opportunities. It helps hugely to get the balance of priorities and focus right and to keep the business on track.
DRAGONS’ DEN star James Caan has invested in a North Staffordshire law firm.
The entrepreneur’s private equity company Hamilton Bradshaw has injected an undeclared amount of cash into the Newcastle Under Lyme firm Knights which focuses on corporate, commercial and real estate work. Caan, who was one of the Dragons on BBC 2′s Dragons’ Den until he quit in 2011, will now sit on the firm’s board.
Knights, which draws much of its business from work outsourced by City firms, claims the deal is the UK’s first private investment into a commercial law firm. The firm says it will use the cash injection to invest in IT and to help to fulfil its ambition of breaking into the top 100 UK firms within three years. Knights – which has been led by managing partner David Beech since 2011 – was established in1759 and has 23 partners and 150 staff operating from offices in Staffordshire, Cheshire and Gloucestershire.
Caan said: “This is a very exciting business for HB to invest in. HB backs talented management and I am confident David will execute his strategy for growth. “The legal sector is undergoing significant change and consolidation. Knights is an excellent firm which has proven management and financial backing to scale its business and position itself in the top 100 UK law firms.
“I am very focused on people-based businesses and Knights stood out as a business with a highly talented team.” Beech said: “We met with several investors to work with us on our future expansion. “What stood out about HB was the fact that they don’t just bring capital, they also bring an incredibly talented team on board who will support our business to achieve its ambition to become a leading regional law firm and cost solution to London.”
Courtesy of TheBusinessDesk.com