Private equity firm Cartesian Captial has invested \u00a37m in shares in law firm DWF.<\/p>\n
The New York-based investor has taken an additional 3%, increasing its stake to 4.46%.<\/p>\n
Peter Yu, managing partner of Cartesian Capital Group, said: “Having closely reviewed DWF’s strategy and operations, we concluded that DWF’s world-class, worldwide team are creating great value for their clients – and for their stakeholders.<\/p>\n
“From their client-focused Managed Services to their innovative and efficient Connected Services offerings, DWF truly represents the future of integrated legal services.”<\/p>\n
DWF raised \u00a395m when it went public in March 2019 with an IPO priced at 122p per share.<\/p>\n
A steady first year saw its price edge up to 143p before the impact of Covid-19 sent its share price tumbling to a 45p low in July. Last night it closed at 71p, valuing the business at \u00a3230m.<\/p>\n
DWF chief executive Sir Nigel Knowles added: “We have a longstanding relationship with Cartesian and we are delighted to welcome them to our group of major shareholders.<\/p>\n
“It is pleasing to see the progress we have made – and the future potential in our business – being recognised with a significant new shareholder coming on-board.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Private equity firm believes company ‘represents the future of integrated legal services’<\/p>\n","protected":false},"author":18,"featured_media":2062338,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"coauthors":[81],"class_list":["post-2066988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","tag-featured-story"],"yoast_head":"\n