Jabbari: Solid base for growth
A private equity house has acquired two law firms in quick succession – one specialising in conveyancing and the other in private prosecutions.
Alcuin Capital Partners announced yesterday that it had bought Connect2Law Ltd – owner of “tech-enabled” conveyancing brands Muve and Nova – to follow Edmonds Marshall McMahon (EMM) just before Christmas.
Muve, based in South-West London, is the consumer brand that markets itself as “experts in fast conveyancing”, while Nova is the brand working with estate agents and mortgage brokers. The firm is regulated by the Council for Licensed Conveyancers.
Their Lightspeed product guarantees to reach exchange in five weeks for freehold properties or eight weeks for leasehold. If it cannot meet these deadlines, the fee is reduced by £100 for every week of delay, but the firm told us last year that it met them 80% of the time.
Much of its work is done in Sri Lanka, where it has 390 staff. This is a wholly owned operation, rather than outsourced.
There are 70 staff in the UK, where it has a UK ‘centre of excellence’ which handles complex cases or areas where the offshore resourcing is not appropriate.
Alcuin is an established mid-market investor that has backed more than 65 companies and exited 50, including well-known names like Caffe Nero, Krispy Kreme UK and Games Workshop.
Connect2Law chief executive David Jabbari declined to confirm whether Alcuin had taken a majority or minority stake.
He explained that they had sought private equity backing “to achieve some capital restructuring and create a really solid base for the next five years of growth”.
He added: “We are very excited about AI, as well as building on our highly successful channel marketing strategy and offshore delivery. We believe that the combination of these elements in an unbeatable formula for growth in this market.”
Adrian Lurie, partner at Alcuin, said: “Connect2Law’s operational excellence, strong management team and market-leading performance was clear from the outset, and we are excited to help the team capitalise on the impressive work to date.”
Launched in 2012, EMM was the first and still the only specialist private prosecution law firm in the UK. It has seven partners and 24 other fee-earners and staff, and is one of the smallest practices to date to attract private equity.
It said it took a minority investment from Alcuin to accelerate the next phase of its growth. It aims to invest in talent, technology and an international presence.
Managing partner Tamlyn Edmonds said: “We started our firm almost 14 years ago without a single client. It hasn’t always been easy but it has always been worthwhile.
“We have helped hundreds of victims seek redress and we are proud to have fostered the growth of a truly unique area of law: private prosecutions for economic crime.
“Over recent years, our clients have needed additional assistance in investigations, civil fraud and white-collar crime; other expert partners and lawyers have joined us to make us the successful firm we are today…
“We recognise the opportunity that external investment can offer to help us further accelerate our growth, whilst retaining our ethos and enabling us to provide an outstanding experience for our people and clients.”
Alcuin partner Nick Seaman said: “Already a standout performer, EMM is exceptionally well-positioned for its next stage of expansion. Our investment will help the business scale faster, elevate its client offering, and continue building the high-calibre teams that underpin its success.”
Leave a Comment