LOD (Lawyers On Demand) and Bryan Cave Leighton Paisner (BCLP) are delighted to announce that LOD has agreed terms to bring in new capital to support LOD’s growth plans through a partnership with Bowmark Capital (Bowmark), which specialises in investing in growth companies.
“This is all about access to capital for our next stage of growth,” comments LOD CEO Tom Hartley. “We have been exploring alternative options since the summer of 2017 following our successful merger with AdventBalance in Asia and Australia in 2016.”
Neville Eisenberg, BCLP Partner responsible for LOD said: “BCLP is extremely proud to have been a pioneer in the alternative legal services market. Nurturing the creation of LOD over 10 years ago and supporting its growth and considerable influence over the legal market as a high-quality provider of flexible legal services has been an extraordinary journey for us all. We believe that LOD is ideally placed for further growth and that this new investment by Bowmark will help facilitate LOD’s ambitious plans. BCLP has committed to remain close to LOD, partnering with the business for its flexible lawyer needs and we look forward to seeing the results of this exciting new chapter in LOD’s development.”
Bowmark Managing Partner Charles Ind said: “We have been tracking the alternative legal services sector for a number of years and are delighted to have the opportunity to become the principal shareholder in LOD and support the whole LOD team as they build on the impressive growth they have achieved to date.”
Hartley adds, “BCLP has been a great owner, client and partner and this is the logical next step for us to take. LOD has already been a separate entity from BCLP for the last six years, during which time we’ve seen excellent growth. We want to maintain that expansion by continuing to add new service lines, geographies and technology to our existing offering for our lawyers, consultants and clients. LOD is now in the perfect position to continue to lead the alternative legal services market supported by the capital and expertise of Bowmark.”
BCLP, which was recently formed by the merger of Bryan Cave and Berwin Leighton Paisner, has a widespread reputation for innovation in the delivery of legal services, with both legacy firms winning multiple awards for innovation. Eisenberg further adds, “BCLP has always tried to be ahead of the game in developing solutions which address our clients’ most pressing needs.
Pioneering the flexible legal resource market through LOD is a great example of this approach. Our recent merger gives us more scale and a wider international presence with which to fuel our innovation programme, which is an important element of our future strategy.”
BCLP and the shareholders of LOD were advised by Livingstone Partners.
LOD: Ten years of seeing things differently
Over the past decade, we’ve transformed the way in which lawyers, consultants and legal teams work. Today, we’re one of the largest and fastest growing flexible legal services businesses, continuing to lead the market we created and completing hundreds of assignments with the world’s leading businesses and law firms.
Winning numerous awards along the way, LOD is continually recognised for creating different and better ways of working for both lawyers and legal teams. Following the merger between LOD and AdventBalance in Asia and Australia in 2016, LOD is now a NewLaw business with global scale; ten offices, 650+ lawyers and consultants, and more than 500 corporate and law firm clients.
BCLP: A pipeline of future Innovations
BCLP has over 1,400 lawyers in 32 offices across North America, Europe, the Middle East and Asia. It is a fully integrated global law firm known for its relationship-driven, collaborative culture, diverse legal experience and industry-shaping innovation. It offers clients one of the most active M&A, real estate, financial services, litigation and corporate risk practices in the world.
As part of its continued commitment to providing innovative services and products to clients, BCLP will combine and grow the legacy BCXponent and Streamline brands, which were designed by Bryan Cave and BLP respectively and integrate legal operations into its advisory framework. It will also grow legacy technology offerings, such as the proprietary technology platform CrossLITE. BCLP recently announced the launch of Swiftagree, a UK based legal tech start-up which provides clients with an innovation solution to legal contracting and is the first in a series of planned launches over the coming year. BCLP is also committed to fostering innovative ideas among employees on new legal technology, via its TechX initiative and Business Academy, designed to empower its teams to continuously improve services.
Bowmark Capital: Partnering with management teams to build market-leading businesses
Bowmark Capital is a leading private equity firm specialising in UK mid-market companies. Founded in 1997, Bowmark manages and advises funds totalling approximately £850 million on behalf of a blue chip investor base including public pension funds, insurance companies and financial institutions from the UK, US and Continental Europe. The Bowmark team has extensive experience of investing in growth companies, and has supported businesses in a range of industries including healthcare, education, business services, consumer and leisure, IT services and media. Bowmark Capital LLP is authorised and regulated by the Financial Conduct Authority.
The news has been reported in the Australasian Lawyer, LegalWeek, Legal Business, The Lawyer, City AM, Legal IT Insider, Legal Futures, Asian Legal Business, Real Deals, Unquote, The Oath and LawyersWeekly.
The Australasian Lawyer also spoke to Ken Jagger, Co-Founder and COO, about the new partnership’s impact on our business in the Asia Pacific. Read the full article here.
For more information:
LOD: Alex Charlwood (+44 (0)7957 397 514) or Anita Thomson (+61 2 8014 5113)
Bowmark: Caroline Cecil (020 7610 4110)
BCLP: Ash Coleman-Smith (0203 400 4311) or Alex Smith (0203 400 2234).