Law firm HF gets approval for private equity investment
Insurance and commercial specialist HF has been given the go-ahead from the Solicitor’s Regulatory to complete its deal CBPE (Close Brothers Private Equity) to take a minority stake in the firm, known until recently as Horwich Farrelly.
The deal will provide capital to “accelerate HF’s ambitious growth strategy” and modernise how the business operates.
Ronan McCann, CEO & Managing Partner at HF said, “We’re excited to receive regulatory approval to complete this deal which will fast forward our growth plans as well as our investment in innovative technology, our service and our people. We’re now looking forward to working with CBPE as a trusted partner who shares our ambition as well as having a culture and values that align with ours.”
HF is one of a small number of law firms structured as a limited company, a move introduced to facilitate an all-employee share scheme giving every employee part ownership of the business. The HF team will retain the majority investment.
Since 2022, HF developed innovative technology for clients, including AI based technology through subsidiary HighFive.
The investment represents the twelfth investment from CBPE Fund X, which closed at the hard cap of £561m in November 2020.
Richard Thompson and Naveen Passi (Partners of CBPE) commented: “Having received the necessary approvals, we’re now looking forward to working with Ronan and the leadership team at HF to help accelerate their growth plans. HF is a people and client focused business and stands out for its innovative approach to both technology and legal expertise. This new phase gives us the exciting opportunity to drive further organic growth, investment in technology and targeted M&A to expand its service offering.”
