QualitySolicitors to acquire stake in Move with Us
Palamon Capital Partners, the owner of QualitySolicitors, have attained a controlling stake in the company of probate specialists – Simplify legal.
The Simplify Group is currently comprised of probate specialists Chorus Law and leaders in conveyancing, DC Law and Move with Us. DC Law having recently acquired the Barnetts business in Southport.
With a turnover of £60m the group now seeks the opportunity to obtain access to high street law firms and through QualitySolicitors, will provide direct contact with consumers, something which until now, Simplify have not been able to offer as a service.
Although the terms of the transaction were not disclosed, the declared turnover of Simplify would suggest an investment of around £150m for ownership of a controlling stake in the business.
Palamon, who invested in QualitySolicitors in 2011, have together handled more than £200m of legal work per year. Dan Knottenbelt, a partner at Palamon believes that the investment will ‘provide multiple growth opportunities for both companies.’
With this venture between the two companies’ and changes in the UK legal market, Palamon is provided with further opportunity to be the UK’s largest legal services provider.
Eddie Ross, Chief Executive of QualitySolicitors, has said that ‘the technology expertise of Simplify will enhance our innovative online customer platform’ and that ‘the scale of the Quality Solicitor network will provide a broader range of legal services to Simplify customers’ suggesting the deal is predicted to bring extra work to both businesses and enhance their positions in the legal market.