The deal

Manchester-headquartered law firm, BBS Law, has secured significant investment from private equity firm, Aliter Capital, in a deal supported by FRP Corporate Finance.

BBS was established in 1978 and provides a wide range of legal services including corporate, property, secured lending, private client, employment, litigation and family law. It currently employs 65 people, with offices in both Manchester and London.

It has now welcomed investment from private equity firm, Aliter Capital, to support its future growth and development plans. Founded in 2016, Aliter specialises in providing hands-on support to high growth SMEs in the UK support services sector and has offices in London, Manchester and Glasgow.

FRP Corporate Finance’s Manchester team – led by Directors Daniel Brecker and Alex Starling, supported by Assistant Manager George Barron provided corporate finance advice on the deal which will see BBS Law benefit from being a part of Aliter’s selective portfolio. The corporate finance team from FRP presented the opportunity to Aliter and prepared a detailed exit review including an assessment of the M&A market in professional services.

The investment will further support BBS Law’s ambitious plans for growth. In the last two years it has already made two acquisitions and FRP Corporate Finance will continue to maintain a close relationship with both parties as they look to secure further strategic bolt-ons to expand the firm’s offering across the UK. The senior partners at BBS will continue to be significant shareholders but will now benefit from Aliter’s support.

Daniel Brecker, Director at FRP Corporate Finance, said: “BBS Law is a strong business with a skilled management team, which made it an attractive prospect for private equity investment. In Aliter Capital, it has found a partner that is not only a good fit culturally, but also has the resources and expertise to help the business achieve its ambitious plans to develop through organic growth as well as targeted acquisitions.

“With an opportunity to capitalise on the appetite for M&A in the legal sector, this deal marks an exciting time for all involved and I’m looking forward to seeing both parties reap the rewards in the coming years.”

Dov Black, Managing Partner and Head of Corporate Finance at BBS Law, said: “This deal provides a fantastic opportunity to build national coverage across the UK and create a differentiated brand within the market, while remaining resolutely focused on meeting the needs of our core client base. We believe strongly the added support of Aliter brings significant experience and resources to help us accelerate the next stage of BBS’ development. It’s an exciting prospect and we are enthused by the opportunities this will bring to our clients and staff.”

James Davies, Investment Director at Aliter Capital, said: “Aliter is the ideal partner for BBS, bringing a track record of driving growth, access to capital for further expansion and specialist knowledge and experience of BBS’ main target markets. BBS is a great business with highly compelling characteristics including a resilient business model, a range of complementary services to suit its customer base, long-standing customer relationships, a footprint in the attractive areas of Manchester and London and a track record of organic growth and successfully integrating bolt-on acquisitions.”