Private equity house CKM3 has invested in Oxford-based Hedges Law through a new legal services vehicle, Oak Legal Group, it has announced.
Oak Legal Group formally launches as a “deliberate step to build something fundamentally different in the legal market”, founding director Nicola Poole explained.
Poole, who is also a director of Hedges Law, leads Oak Legal Group alongside fellow Hedges Law director Rebecca Kashti and entrepreneur Colm McGinley, a successful business owner and acquirer.
The team describe the deal as “the start of an ambitious buy-and-build strategy to unite high-quality law firms around a commitment to people, culture and long-term growth”.
With 532 law firms closing in the past 12 months, according to figures from the Solicitors Regulation Authority (SRA), Oak Legal Group says it is looking for “established firms in high-end locations with strong client relationships and high-performing teams” who are exploring future security and legacy planning.
Following the completion of the Hedges’ acquisition, the group adds it has signed heads of terms with two further firms and is in advanced talks with several others. Firms joining the group will retain their brand and leadership teams, and will be supported by “collective investment, governance and operational expertise”.
In 2021 Hedges, which has been established for 230 years, was one of the first firms to become an employee ownership trust (EoT). Oak Legal confirmed as part of the deal the EoT is no longer part of the business and has been replaced by a profit sharing scheme. Employees will continue to share in the success of the business, which the founders say is “hugely important” to them and likely to be replicated in all Oak Group law firms.
On the new direction for Hedges, Poole said: “Hedges has never stood still, our ability to evolve is what has allowed us to sustain and continue to serve our clients for multiple generations. But what we are doing now is genuinely new. We are seeing strong interest from firms that recognise the challenges and opportunities in today’s legal landscape and want to be part of something more sustainable.
“Cultural fit is absolutely critical to us. We are not looking to acquire for the sake of it – we want to partner with firms who genuinely believe in the same approach to clients, people and long-term success.”
Kashti added: “We are not building for a short-term exit or pursuing growth at any cost. We are creating a platform of leading law firms that share the same values – where people and clients come first, and where culture is protected, not eroded.”
McGinley said: “The strategy is to establish a group that is ‘greater than the sum of its parts’. It’s about backing great businesses and great people, not imposing a template. Too often, founders are forced to choose between selling to consolidators or private equity models that don’t reflect what they have built. We believe there is a better way – one that protects legacy, supports teams, and creates long-term value.”
For Poole, the deal represents the culmination of a long-term strategy: “I have led Hedges for over a decade, and this is the most exciting phase we have ever entered. We now have the opportunity to build a very special type of law firm; one that is commercially strong, but also deeply principled in how it treats its people and clients. This is about shaping the future of the firm, not just securing it.”
