Pinsent Masons advises Lloyds TSB Development Capital on the purchase of a stake in law firm Keoghs

12 Nov 2012 | 01:35 pm |

International law firm Pinsent Masons has advised Lloyds TSB Development Capital (LDC) on the purchase of a stake in law firm Keoghs.

Keoghs has agreed to sell 22.5% stake in the firm to private equity investor LDC. The deal, which completed on November 9, follows the approval of its application to the Solicitors Regulatory Authority (SRA) to become an Alternative Business Structure (ABS), which enables legal services firms to accept external shareholders.  This deal follows hot on the heels of investments by James Khan's Hamilton Bradshaw and by Duke Street Capital in Knights LLP and Parabis Group respectively and represents a significant transaction in this quickly developing sector.

Keoghs, an insurance claims specialist with 1,200 staff based in Manchester and Coventry, said the involvement of LDC would enable it to continue investing in its people, processes and technology infrastructure while providing capital for potential strategic acquisitions to add complementary services and scale to its operation.

The Pinsent Masons team advising on the deal was led by Gregg Davison, assisted by Andy Phillips, Sarah Flinn and Amie Norris from the firm's Manchester Corporate team.

Commenting on the deal Gregg Davison, Corporate Partner at Pinsent Masons said: "We were extremely pleased to help LDC with this novel and market leading transaction.  Working with LDC, Keoghs and the other advisers to fit a private equity structure into a transaction with a law firm provided unique challenges and required new solutions to be found to deal with the developing regulatory environment."

Latest press releases

Show me all press releases

Transactional Services group appoints two partners in Singapore

Multinational law firm Pinsent Masons has appointed Transactional Services partners Nicholas Hanna and Mark Tan, as it grows its corporate capabilities in Singapore.

Best Lawyers Germany 2020: 23 Pinsent Masons' partners ranked

Handeslblatt and Best Lawyers recognised 23 partners of multi-national law firm Pinsent Masons as Best Lawyers in Germany 2020.

Pinsent Masons hires real estate regulatory and investment partner in Germany

Multinational law firm Pinsent Masons has hired real estate funds regulatory and investment specialist Dorothee Atwell into its Frankfurt office

People who viewed this press release also viewed

Show me all press releases

Best Lawyers Germany 2020: 23 Pinsent Masons' partners ranked

Handeslblatt and Best Lawyers recognised 23 partners of multi-national law firm Pinsent Masons as Best Lawyers in Germany 2020.

Pinsent Masons advises Royal London on sale of Ascentric

Pinsent Masons has advised Royal London on the sale of its platform business, Ascentric, to M&G plc.

Pinsent Masons advises Redington on deal from Phoenix

International law firm, Pinsent Masons, has successfully advised the founders and management of Redington, the independent institutional investment consultant, on an investment deal from Phoenix Equity Partners, a leading UK mid-market private equity firm.

For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on

+44 (0)20 7418 8199 or 

Location contacts