Craig Holt, chief executive of QualitySolicitors, won’t say how much private equity firm Palamon Capital Partners has invested to buy a majority stake in QS, but the firm specialises in investments of around £10m-£60m. The money will be spent on marketing and on the creation of some shared back-office services for QS members.

Even if this investment is at the lower end of Palamon’s usual range, that is a large sum for a business which has, to date, focused on branding, consumer marketing and the creation of a standardised first-contact experience for clients. To put this amount into perspective, the average marketing spend for an international law firm is £7m-£8m. So, in legal-world terms, the figures involved are large.

However, in the consumer advertising world in which QS seeks to swim, the figures seem less monumental. John Lewis, whose style Holt says QS wishes to emulate, spent £6m last year on its six-week ‘Always a woman to me’ ad campaign, against an annual budget thought to be about £20m. Holt’s business will compete with toasters, perfumes and cars for consumer/client attention.

As ever, making money is much harder than losing it. In this respect, Palamon’s investment is a groundbreaking departure. And while one must assume it knows what it is doing, the venture represents a calculated wager, not a steamroller about to crush all-comers.