Duke Street ups investment in Parabis

The fresh capital will fund a programme of investment in people, property and technology. The investment comes after a year of restructuring for Parabis, which is refocusing its business, rationalising property holdings and regrouping its teams.

Previous funding
Duke Street first invested in Parabis in February 2012 in a deal that valued the company in the region of £150-200m, according to unquote" data. At the time of investment, Parabis was generating revenues of £160m.

Company
Parabis is a provider of legal management and claims services. It serves clients in the insurance sector. The group secured its ABS (Alternative Business Structure) status in 2012.

Parabis operates under the brand Plexus Law, which focuses on areas including clinical negligence, catastrophic loss, fraud, motor prosecutions, property damage and reinsurance.

Its other brand name is Cogent Law, which focuses on personal injury claims, employment disputes and contract disputes, as well as wills, trusts and lifetime planning.

People
Charlie Troup is a partner at Duke Street. Tim Roberts is group commercial director and founding partner of Parabis.

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• Topics
• Expansion
• UK / Ireland
• Duke Street Capital