Last week high street law firm and Alternative Business Structure, McMillan Williams, received £5m investment from the Business Growth Fund. This is the first investment by the BGF into the legal sector.
The firm, which specialises in conveyancing, personal injury and family law, said it plans to open eight new offices over the next two years and take on 75 new members of staff.
It’s great to see that the BGF is investing in law firms - particularly one which relies on legal aid work for a quarter of its revenue.
It will be fascinating to see if the BGF seeks to invest in any more law firms. Could this be the future for high street firms and legal aid?
McMillan Williams (MW), which has 20 offices in London and the south of England, has become the first high street law firm to take external investment after securing a £5m private equity deal.