Powering Up a Law Firm-The Barbarians at the Gate?
The Law Society Gazette covered yesterday the impressive published accounts from national law firm Keoghs LLP.
Just to be clear: Keoghs is owned by the global insurance and professional services brand, the Davies Group, which is in turn owned by BC Partners, a £140 billion PE house!
The BC chair and dealmaking guru Nikos Stathopoulos once said in an interview with the FT:“Investing is very much about conviction,” … “To get to that conviction you must have something more than your peers […] so that you’re able to pay more. It’s not just based on the business plan.”
Perhaps that’s why Keoghs now have access to an enormous war chest for M&A in the legal sector, which will allow them to be powered up even further. With another PE house, Inflexion, buying DWF, we can see the future direction of travel.
Not quite the barbarians at the gate, but definitely a firm to watch out for.