Bowmark Capital distributes IMs for Lawyers On Demand exit

Sale materials for asset were distributed through Rothschild's Arrowpoint Advisers, which was appointed in March 2022 to review strategic options for the business, as reported.

The process is still in its early stages and is not expected to close until the summer, said one of the sources, adding that the business is being marketed off GBP 16m EBITDA for 2023.

In the financial year 2021/2022, global revenue was GBP 68m, according to the company's financials.

LOD's core services include seconding lawyers and other legal professionals to corporate clients and law firm. It also offers managed services, legal operations and tech consulting; it also operates an internal law firm, LOD Legal, comprising mostly in-house lawyers, as reported.

Bowmark Capital agreed in 2018 to become the main shareholder in LOD, which was previously backed by law firm Bryan Cave Leighton Paisner, as reported. The business was marketed off GBP 7m-GBP 8m EBITDA in the process, on which Livingstone Partners was the sellside advisor.

Bowmark and LOD declined to comment.

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