Garvins Law secures £2 million funding

Manchester-based Garvins Law, a credit hire litigation specialist, recently announced it has secured a substantial £2 million funding package from Harbour Credit. This financial backing is aimed at facilitating a management buyout and providing crucial working capital for the firm’s upcoming growth phase. As part of this transaction, Managing Director Neil Garvin will become the sole shareholder, affirming Garvins Law as a management-owned practice.

The funding encompasses a £1 million working capital facility specifically designed to bolster new instructions and enhance relationships with credit hire and accident management businesses. Established in 2007, Garvins Law has garnered a reputation for representing claimants who seek to recover replacement vehicle hire charges and associated losses following road traffic accidents.

Neil Garvin expressed his enthusiasm for the future, stating “This is an exciting next chapter for Garvins. We have an experienced team, an established position in the credit hire market and ambitious plans to grow the business and develop our relationships across the credit hire and accident management sectors.” He went on to commend Harbour’s understanding of their operations, noting, “Harbour took the time to understand our business, how our cases progress and the timing of our cash flow. That enabled them to structure funding around the particular requirements of credit hire litigation and our plans for growth.”

Harbour Credit, which began offering this type of funding to law firms in 2023, has completed its initial credit facility under the new Harbour Credit umbrella with this investment in Garvins Law. Ellora MacPherson, Managing Director and Chief Investment Officer at Harbour, remarked, “Garvins Law has established expertise in credit hire litigation and a clear plan for growth. We have structured a facility that supports the change in ownership and provides working capital for the firm’s next stage of development.”

The collaboration signals a promising future for Garvins Law as it builds upon its existing achievements and engages in transformative growth, with Harbour Credit expressing plans to explore additional opportunities across the UK in the upcoming months.