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Palamon makes further ‘multimillion’ investment in QualitySolicitors

Network to pursue selective expansion and look at 'investment and acquisition opportunities'

28 January 2014

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Palamon Capital Partners, the private equity firm which bought QualitySolicitors in October 2011, has pledged "substantial further investment" into the network.

A spokesperson for QualitySolicitors said the figure was confidential but that it was "multimillion".

The move comes just three weeks after the acquisition by Permira, another private equity firm, of US online legal platform LegalZoom, with whom QualitySolicitors has partnered to offer a combined web and face-to-face legal offering in the UK.

Indirectly acknowledging concerns over QS membership, founder Craig Holt said the plan was to continue to grow but the purpose of the new funding was "to expand the service we provide and the value we deliver to our firms through case generation, promotion of the brand, increasing cost efficiencies and developing technology innovations through our R&D department."

He added: "We are also going to add to the network with a small number of firms of the right quality and ethos this year to further strengthen our coverage across the UK."

Three months ago one of the largest QualitySolicitors member firms, Fisher Jones Greenwood, announced it was leaving the network to focus on its local regional market.

In addition to developing the network, Holt also said QualitySolicitors was "looking at investment and acquisition opportunities" within the legal services sector.

The former barrister said the business was now looking to build on the success of its marketing campaign last autumn which it says resulted in an 80 per cent increase in new business leads.

A marketing campaign due to start on Wednesday (29 January 2014) will cover family and divorce. It is one of several aimed at consumers and SMEs promoting the advantages of instructing QS firms.

Holt also attempted to dispel some of the suspicion surrounding the QualitySolicitors brand among the profession.

"We are keen for the legal sector to understand in more detail what we are about and that innovation and new ways of highlighting the public value lawyers provide are not necessarily to be feared," he said.

"We aim to engage more with the profession in future to further meet that objective."

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