Duke Street acquires stake in Parabis for €164.4m

Parabis' management will be supported by Duke Street to drive the business and adopt a buy-and-build strategy.

The deal values Parabis at €164.5m. It completed in September 2012.

Company
Parabis Group is a provider of legal and claims management services throughout the UK. It operates under the brands Plexus Law and Cogent Law, litigating around 200,000 cases per year. The group is also active in claims management outsourcing, rehabilitation, loss adjusting and health & safety assessment and audit.

The group has seen revenue growth of more than 25% in the past four years. Revenues in the year up to March 2012 are expected to be £160m.

People
Paul Lester and Bob Scott, both Duke Street operating partners, will join Parabis' board as non-executive directors. Lester will also take the position of chairman of Parabis Group upon completion of the transaction.

Iain Kennedy, partner, led the deal on behalf of Duke Street.

Tim Oliver is CEO of Parabis Group. Tim Roberts serves as commercial director.

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

• Topics
• UK / Ireland
• Support services
• Buyouts
• Duke Street