Current chief executive and chief operating officer, Brian Cullen and Joanna Kingston-Davies, have led a buyout of the Liverpool law firm with new acquisitions in their sights. Tony McDonough reports
Two senior executives at Liverpool law firm Jackson Lees Group have led a management buyout (MBO) of the business.
Headquartered at Exchange Flags in Liverpool city centre, Jackson Lees employs 280 people across six North West offices, including Wirral and Manchester. It comprises two well-know legal brands – Broudie Jackson Canter and Jackson Lees.
Now the practice has been acquired in an MBO by MAPD Ventures, led by current chief executive and chief operating officer, Brian Cullen and Joanna Kingston-Davies. The deal has been backed with undisclosed funding by Shard Credit Partners.
MAPD Ventures now intends to invest heavily in the legal sector via a nationwide acquisition strategy. The business is currently in advanced discussions with three firms. MAPD stands for ‘Making a Positive Difference’.
Mr Cullen said: “The MBO begins an exciting new chapter in the growth of our business and now allows us to accelerate finding great businesses to join the Group. The relationship with Shard is founded on a mutual view of what a ‘great’ business should look like, with a strong view of cultural alignment.”
Jackson Lees specialises in family, wills and probate, conveyancing, commercial, employment, court of protection, medical negligence and personal injury while Broudie Jackson Canter has established a formidable reputation in civil liberties and social welfare.
The firm has represented families at the Hillsborough Inquest and Birmingham Pub Bombing Inquest and is currently working with families on the Manchester Arena Bombing Inquiry.
Ms Kingston-Davies added: “Our strategy is predicated upon taking away the headache of ‘back office’ for law firm owners to free up their time to focus on localised growth and development.
“By providing strong operating platforms and infrastructure with defined career structures and leadership, we will enable traditional law firms to deal with succession issues and to focus on what they do best.”
Advisors for MAPD Ventures and Jackson Lees Group were Dow Schofield Watts Corporate Finance and Shareholder Strategies. Legal advisors were O’Connors Legal Services. Tax advisors were RSM and financial due diligence Dow Schofield Watts Transaction Services.
Advisors for shared credit partners were Gateley. Law firm Brabners acted for NatWest to facilitate the MBO.