LDC backs Keoghs

The investment sees LDC take a 22.5% stake in the business. The deal was introduced by Deloitte corporate finance in Manchester.

The funding is earmarked for both organic and acquisitive growth: internally, it will focus on investing in its personnel and technology; externally it will look to scale through strategic bolt-ons.

LDC would not disclose the value of the deal. The GP has the capacity to invest £2-100m equity per deal, and unquote" data reveals an average deal value of £22.9m. Keoghs recorded a turnover of £44.65m in 2010-2011.

Company
Bolton-based Keoghs was founded in 1968 to serve the defendant insurance sector. The business provides claims-related services to the insurance industry to facilitate claims processing, particularly for motor, liability and property damages, as well as disease, catastrophic injury and suspect fraudulence. These claims range in value from hundreds of pounds through to millions.

Keoghs is the only top 100 law firm to exclusively focus on defendant insurance work, and currently acts for more than 60 insurers, government and public sector bodies, and large corporates, handling around 40,000 claims per year. The firm employs more than 1,200 people across offices in Bolton, Coventry and Manchester.

People
John Garner is a director at LDC. John Whittle is chief executive of Keoghs.

Advisers
Equity – Deloitte (Financial due diligence); OC&C (Commercial due diligence); Pinsent Masons (Legal); Prelude (Management due diligence).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• UK / Ireland
• Support services
• United Kingdom
• LDC