Neil Lloyd (l) with Michael Jordan
The law firm at the centre of Adeptio Law Group – created in late 2024 by private equity firm Horizon Capital to enact a ‘buy and build’ strategy – has made its first acquisition.
Adeptio launched with a deal for FBC Manby Bowdler and the Midlands law firm has now acquired Black Country practice Jordans Solicitors, which has around 30 people working from offices in Blackheath and Halesowen.
Both offices will be retained, giving FBC eight offices in total in the region. Jordans – which specialises in wills and probate, property and family law – will retain its name in the short term before becoming ‘FBC Manby Bowdler incorporating Jordans’ as integration progresses.
Adeptio is backed by a £30m investment from Horizon Capital and Companies House records show that it spent £15.6m of that to buy FBC.
FBC’s turnover in the year to 31 March 2025 was £17.7m, compared to £16.5m the previous year. The stated aim at the time of the investment was to double in size in a year to 18 months. Last autumn, it expanded its referral service for smaller firms across the country.
Horizon Capital said it established Adeptio “to execute a strategy to build a leading national legal services group through the acquisition of regional law firms”. Adeptio is Latin for achievement, acquisition and ambition.
It is owned 60% by Horizon and 30% by FBC’s partners, with the remaining 10% for future FBC partners or owners of acquired firms.
Neil Lloyd, chief executive of both Adeptio and FBC, said: “We set out with a clear ambition – to build a network of outstanding regional law firms that can offer clients more, while remaining rooted in the communities they serve. Jordans Solicitors is exactly the kind of firm we had in mind.
“It has a long-standing reputation for quality and client service and this deal strengthens our presence across the wider Birmingham and Black Country region.
“We remain committed to our people-first, regional approach – preserving what makes each firm distinctive while giving them access to the resources, expertise and investment they need to thrive.”
Michael Jordan, managing director of Jordans, will become a partner of FBC. He said: “My father founded Jordans in 1991 and over more than three decades we have built a firm that our clients and communities trust.
“Joining FBC Manby Bowdler, and becoming part of Adeptio Law Group, felt like the right move to secure that legacy and to give our team the platform and opportunities they deserve.”
Simon Hitchcock, managing partner of Horizon Capital, added: “FBC Manby Bowdler has delivered outstanding organic growth since we made our investment and bringing Jordans Solicitors into the network is a strong statement of intent.
“We have taken time to make sure the foundations are in place to build something genuinely exciting in the legal sector with Adeptio and this acquisition is the first of a number of exciting deals in the pipeline.”
Speaking last year, Mr Lloyd urged lawyers not to believe “everything you read” about concerns that private equity just wanted to squeeze their investments ahead of a sale.
“My life hasn’t really changed,” he said, adding: “They’re eyes-on but very much hands-off in terms of the day-to-day running of the firm.”
We will be exploring private equity investment in the law at the Law Firm Growth Summit on 18 March.
Leave a Comment