Livingstone’s Business Services sector team has advised the shareholders of LOD (Lawyers On Demand), a leading provider of alternative legal services, on its management buy-out backed by Bowmark Capital. The agreed terms bring in new capital to support LOD’s growth plans through a partnership with Bowmark.
Over the past decade, LOD has transformed the way in which lawyers, consultants and legal teams work. Today, they are one of the largest and fastest growing flexible legal services businesses, creating and completing hundreds of assignments with the world’s leading businesses and law firms.
Winning numerous awards along the way, LOD is continually recognised for creating different and better ways of working for both lawyers and legal teams. Following the merger between LOD and AdventBalance in Asia and Australia in 2016, LOD is now a NewLaw business with global scale; ten offices, 650+ lawyers and consultants, and more than 500 corporate and law firm clients.
Bowmark will replace Bryan Cave Leighton Paisner (BCLP) as principal stakeholder in LOD. BCLP nurtured and supported LOD from its inception 11 years ago and has committed to remain close to it, partnering with the business for its flexible lawyer needs and maintaining a close relationship.
Neville Eisenberg, BCLP Partner responsible for LOD said: “James Lever and his team at Livingstone were excellent advisers and managed the execution of this transaction with a high quality process, great efficiency and an impressive understanding of the unique circumstances of the mandate. Working with the Livingstone team was an absolute pleasure.”
Tom Hartley, LOD CEO said: “The Livingstone team helped us to understand and assess the right partner for us, balancing the pace of an international corporate finance deal with the time and space for LOD to really consider the right decision. Livingstone successfully managed the interests of all stakeholders in LOD as well as the complexity of a business with a management team and offices across Australia and Asia, as well as London, New York, Munich and Dubai.”
James Lever, Partner at Livingstone, added: “We are delighted to have advised BCLP and the outstanding LOD management team on the transaction with Bowmark. The process was highly competitive and the business attracted significant global interest. We believe that Bowmark in partnership with the management team will continue to expand the very impressive international platform that LOD has established.”