Two regional law firms have targeted immediate expansion after securing major investment.
Rothley Group, a private client legal services business, has landed an eight-figure funding package from HSBC to restructure its existing debt and support its long term growth plan.
The funding will allow Rothley to extend its office network, which spans Bristol, Birmingham, Leeds, London, Manchester, Milton Keynes and Reading, alongside its Leicester headquarters. The firm is targeting a ‘material increase’ in revenue by the end of the year.
Colin Rutherford, chair of the group, which includes Rothley Law and Money Redress, said: ‘As the business has grown, it’s been important to have a funding partner that understands both the pace of our plans and the complexity of the market we operate in. The HSBC UK team has brought more than capital to the table; they’ve challenged our thinking, helped us plan for opportunities and risks, and moved quickly. That level of support gives us real confidence as we continue to scale the group, and we look forward to building on the partnership as we enter our next phase of growth.’
Meanwhile, private equity investor LDC, part of the Lloyds Banking Group, has bought an undisclosed stake in Nottingham-based property management firm Brady Solicitors. The firm works with managing agents, resident management companies, leaseholders and freeholders across the UK, and will use the funding to invest in staffing, technology and ‘targeted acquisitions’ that broaden its reach and strengthen its specialism.
The firm was founded by chief executive Clare Brady in 2008 and has grown to employ more than 50 people.
Brady said: ‘Partnering with LDC gives us the backing and strategic support to take the firm to the next stage. They understand our market, share our ambition and bring real experience of helping businesses like ours to scale.’
LDC now has stakes in several specialist legal businesses, including Harper James, The Barrister Group, Keoghs, Frankham and Lomond.
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