Practice Management

Law firms backed by private equity have seen revenue growth of 30% in the last two years, twice the rate of the top 50, according to new research.

Pioneering listed law firm Gateley has announced a new £80m revolving credit facility as it eyes further acquisitions alongside organic growth.

North-West law firm Farleys – part of private equity-backed Lawfront – has completed another acquisition as the group continues to grow, in our latest M&A round-up.

In the second part of this interview, Will Evans, who leads the professional services team at Arrowpoint Advisory, talks about the next steps for private equity investment in the law.

Staff at national law firm Shoosmiths will share a £1m bonus if they make a million Microsoft Copilot prompts in its next financial year.

Lawyers need to avoid being “so seduced” by what AI can do “that they don’t appreciate what it cannot”, a professional negligence specialist warned last week.

Almost all of the 21% increase in profits per partner seen by SME law firms last year came from client account interest and they need to “wean themselves off” it, a Law Society report has warned.

The private equity owned Fletchers Group made another acquisition yesterday, while a merger is set to create a 500-person firm operating in Lincolnshire and Yorkshire.

Private equity has invested nearly £1.2bn into law firms over the last five years, with a record £534m coming last year, according to figures published today.

Two former partners of a law firm did not vary their 50/50 partnership after it was set up so that one would be in sole control, the High Court has ruled.