A firm specialising in wills disputes has become the latest to secure private equity backing, with the announcement of a £3.25m injection into the business. IDR Law, based in Harrogate, has agreed investment from BGF, one of the most prolific equity outfits in the UK with a history of putting money into the legal sector.

The money will be used to recruit new staff, invest in technology and expand IDR's office network to the Midlands, north east and London.

IDR Law claims to be the only UK firm to specialise solely in the resolution of wills, probate and trust disputes. The majority of the work is generated by referrals, underpinned by an online network launched last year through which other firms can refer clients where a dispute has arisen.

Martin Holdsworth, founder and chief executive of IDR Law, said: ‘We have identified opportunities for significant growth, but we will only take on cases where we genuinely believe we can help someone reach their goals. BGF understood what we are looking to achieve and that it’s essential we continue to do this in the right way.’ 

Martin Holdsworth

Martin Holdsworth, founder and chief executive of IDR Law

Charles Layfield, a former legal director with Minster Law, will join the IDR board as non-executive chairman. The firm’s new management board comprises existing partners Richard Thomas, Cara Hough and Eleanor Stenson along with head of marketing Lindsay Gibson and Richard Stewart, incoming head of finance.

BGF has counted several businesses in the legal sector among its hundreds of investments, including south east conveyancing specialist Thomas Legal, Gloucester practice Equilaw and nationwide consultancy firm Setfords Solicitors.

In 2015, it also bought a 26% stake in south east firm McMillan Williams for £5m. The business was sold after entering administration in 2020.

BGF is a minority, non-controlling partner which claims to have a ‘patient outlook’ on investments, based on shared long-term goals with the management team it backs.

Reflecting on its latest entry into the legal market, BGF investor Chris Boyes, added: ‘Martin has taken an entrepreneurial and innovative approach to a traditional industry and has experienced excellent growth to date, while creating a great place to work. With fresh investment and BGF’s experience of adding value to businesses as they scale, IDR Law is perfectly placed to accelerate its expansion.’

 

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