The recently merged Bryan Cave Leighton Paisner (BCLP) has sold its controlling stake in alternative legal services provider Lawyers On Demand (LOD) to Bowmark Capital, a private equity firm specialising in investing in mid-market companies.
In a statement, LOD CEO Tom Hartley said the deal was about access to capital for the next stage of the company’s growth. “LOD has already been a separate entity from BCLP for the last six years, during which time we’ve seen excellent growth,” he added. “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.
Neville Eisenberg, the BCLP Partner responsible for LOD, said the law firm would continue to remain close to LOD following the completion of the deal, partnering with the business for its flexible lawyer needs.
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