Defendant insurance firm eyes private equity

Print This Post

By Legal Futures

7 March 2012


Keoghs: exploring opportunities to raise external funding for growth

Leading defendant insurance law firm Keoghs has confirmed that it is exploring opportunities to raise external funding.

Reports in the north-west suggest that private equity firm Bowmark Capital is in exclusive talks to take a stake in the business, which is headquartered in Bolton and also has an office in Coventry.

The Manchester Evening News claimed that Bowmark had fought off competition from the likes of LDC to win exclusive status, after Keoghs had appointed Deloitte to advise on its search for investment.

Keoghs describes itself as the only top 100 firm that works solely on handling and defending general insurance claims. A spokesman for Keoghs said: “Like many firms in our sector, we are currently exploring opportunities to raise external funding for growth as an alternative business structure (ABS).

“Bringing a long-term investment partner on board could potentially provide an opportunity to accelerate the firm’s expansion in the claims-related legal services market, where we believe there is a lo

ng-term opportunity for consolidation.

“This remains, however, an exploratory exercise to determine whether such a move would be in the interests of our firm and our clients. In the meantime, we remain focused on delivering our growth plan.”

Most of the significant announcements on ABSs or potential ABSs have been on both sides of the personal injury market this year, including Duke Street’s of the Parabis Group, Slater & Gordon’s of Russell Jones & Walker and Quindell Portfolio to its group.

Legal Futures has also revealed recently that private equity firms Smedvig Capital and are on the look-out for investments in the legal market.

Tags: , ,



Legal Futures Blog

Gathering speed: The lawtech start-up world you can no longer ignore

Technology

If there are any lawyers out there who are starting to relax, believing that predictions of the demise of law as we have known it in the face of technological change have been exaggerated, they should think again as 2017 begins. A growing hum of activity by the sort of bright and industrious people who have transformed the world in many other respects is being heard in legal corridors hitherto largely undisturbed by the modern world. As their ideas achieve traction, they will disrupt the profession and perhaps even displace lawyers who imagined their careers were set to last a lifetime.

January 23rd, 2017