US private equity giant Sun Capital Partners opts to extend its ownership of Liverpool city region law firm Fletchers Solicitors in an ‘unusual’ deal that values the business at £240m. Tony McDonough reports

Liverpool city region law firm Fletchers Solicitors has been valued at £240m following a fresh deal with its US private equity owner.

Southport-based Fletchers was founded in 1987 by Rob and Ed Fletcher and is one of the UK’s leading clinical negligence and specialist personal injury practices. Florida-based Sun Capital Partners acquired the business in 2021 in a deal believed to be worth almost £37m.

Since then the firm has expanded aggressively via multiple acquisitions. Employing more than 1,600 people, Fletchers now also operates more than 10 UK offices including bases in Liverpool and Manchester.

In the year following the acquisition Fletchers reported annual revenues of £34.1m. Its most recent accounts, for the 12 months to April 30, 2025, it revealed a year-on-year rise of 32% to just under £77m. The firm is targeting a £100m turnover.

This deal to extend the ownership for another four to five years, via what is called a single-asset continuation vehicle, is seen as an unusual move with private equity outfits such as Sun Capital usually seeking an earlier exit.

It is understood the transaction sees Sun Capital pump another £7m-plus in top-up capital for the firm. But investment bank Houlihan Lokey, who acted as the exclusive financial advisor, revealed the deal valued Fletchers at £240m.

Fletchers chief executive Peter Haden said: “It’s an innovative solution for a private equity investor that has grown a business but wants to own it for many more years.

“Sun Capital has been a brilliant investor in our practice, and we’re delighted to sign up to work together for another four or five years. We believe this gives us certainty and continuity so we can keep investing for growth well into the 2030s.”

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Peter added the firm’s core personal injury and clinical negligence practice will be subject to organic growth and further mergers to cope with increasing caseloads.

Alexander Wyndham, managing director at Sun European Partners, Sun Capital’s European adviser, also said: ‘We are very pleased with this outcome and are looking forward to continuing to invest and grow the business with this additional capital.”