Greater Firepower: PI Giant Acquired by Private Equity
The country’s largest dedicated personal injury (PI) law firm has been acquired by private equity, enhancing its capacity for further acquisitions.
Details of the Acquisition
Manchester-based Express Solicitors sold a majority stake to Ufenau Capital Partners, a firm specializing in buy-and-build strategies for European service companies. This marks Ufenau's first investment in the UK market.
Company Growth and Financials
Established in 2000, Express Solicitors has expanded significantly through both organic growth and multiple acquisitions. The firm reported nearly £89 million in turnover, a 25% increase from the previous year, and employs 830 staff members.
Statements from Leadership
“A firm of this size needs a plan where it continues after I’m not here,” said Chief Executive James Maxey, who had been the majority owner. He anticipates remaining in his role for several more years.
He also highlighted the benefits of new backing: “The greater firepower that Ufenau’s support provides will position us better to acquire a large practice.”
Previously, Express bought firms no larger than 20% of its size, but with Ufenau’s investment, it is poised for larger deals.
Future Plans
The strategy moving forward is to continue expanding through acquisitions while maintaining organic growth, according to Mr. Maxey.
Summary: The acquisition by Ufenau Capital gives Express Solicitors strategic capital and support to pursue larger personal injury firm acquisitions and secure long-term growth.