A private equity investor has made its first foray into the legal sector by taking a majority stake in an Essex firm.
The London-based Blixt Group, which invests in mid-market companies across Europe, acquired the 150-strong Fisher Jones Greenwood LLP for an undisclosed sum. The private investment group says it wants to invest nationally in the legal sector and intends for FJG to become a springboard for further acquisitions over the next three to four years.
Blixt says it has access to more than £200m of institutional investor funding and wants to build a leading national firm concentrating on the provision of private client services and services to small and medium-sized corporates.
Carl Harring, chief executive of the Blixt Group said: ‘We were immediately impressed by the quality of the firm and its commitment to innovation and progress alongside excellent client service. We are looking forward to help build a strong national group supported by best-in-class technology and process flow.’
FSG says it has come out of the Covid-19 pandemic in a strong position to take advantage of new opportunities, and that its partnership with Blixt ensures it will remain ‘resilient, with sufficient capital, human resources and technology support to enable it to continue to grow rapidly’.
Senior partner Tony Fisher added: ‘This is a fantastic opportunity for the firm to continue its growth path and provide opportunities to other firms to be part of a national network.’
All of the existing FJG equity partners will remain as partners and members of the firm in their current roles with Fisher becoming chief executive and managing partner Paula Fowler becoming chief operations officer.