A will writing and probate specialist has become the latest legal business to invite private equity investment – with immediate plans to seek acquisitions in the market.

Derby-based Right Legal Group announced that it secured the undisclosed cash injection from Vespa Capital, an investor targeting businesses in the lower mid-market. Vespa said it was attracted by Right Legal’s expertise and high standards, as well as its ‘drive to disrupt and innovate for the benefit of their customers’.

The SRA-regulated firm was founded 10 years ago by Carrie Caladine, Mike Simpson and Keith Dearling and now has 160 staff. It intends to use the money to pursue an ‘ambitious growth strategy’ through investment in technology, growing the existing team, developing its training academy and through mergers and acquisitions.

Vespa’s profile of its new investment states that the business enjoys ‘favourable market dynamics’ through the UK’s ageing population and the increasing complexity of family structures and of probate and property wealth.

It adds: ‘Right Legal has pioneered an innovative business model that disrupts the traditional legal services industry, which has seen minimal digitalisation thus far. Right Legal’s approach is both novel and efficient, and supported by technology, all the while maintaining a highly personalised and sensitive experience for its customers.’

Caladine, chief executive of Right Legal, said of the investment: ‘[Vespa has] a strong track record in helping companies such as ours reach their growth potential and bring a wealth of knowledge and experience that will be invaluable as we commence the next part of our journey.’

The Right Legal Group includes Simpson Solicitors, which has 11 offices across England and Wales. It also has partnerships with five other firms across the country, referring work through its RightWill will writing platform. In its latest accounts, for the year ended 30 November 2022, the group reported net assets of £1.7m and work in progress worth around £3.6m.

Right Legal Group shareholders were advised on the investment by Arrowpoint Advisory, Geldards LLP, Mazars LLP and Fairgrove Partners.

Vespa Capital was advised by Squire Patton Boggs, Grant Thornton, CISOselect, Continuum and Lockton UK.

Private equity has become an increasing presence in the legal market. Firms that have attracted investment include Fletchers (bought by Sun European Partners), DWF (bought by Inflexion Private Equity Partners) and the legal group Lawfront, owned by Blixt Group. 

 

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