Investment type
- Development capital
Keoghs has served insurers, public sector and corporate organisations with claims-handling services for more than 40 years.
In 2012, we invested in the business for a minority 22.5 per cent shareholding.
Investment to scale
During a seven-year partnership, LDC’s support enabled Keoghs to increase investment in its people, processes and technology infrastructure while also enabling strategic acquisitions to add complementary services and scale to its operation.
This included the acquisition of Hill Dickinson’s highly-regarded Insurance Business Group which saw 300 employees based across sites in Liverpool, London and Manchester transfer to Keoghs, the acquisition of the defendant insurance practice of Newcastle-based law firm Sintons and Caldwell Warner in Belfast.
The business also opened new offices to grow to a network of ten locations, and won a string of new contracts.
Keoghs increased its revenues by 70 per cent from £55million in FY12 to £93million in FY19, and grew employee numbers from 1,200 to 1,700.
LDC has been a supportive investor and our seven year partnership with John Garner and the team helped us expand our reach through both acquisitive and organic growth.”
Trade sale
In January 2020 LDC sold its minority stake in Keoghs to specialist professional services and technology business Davies.
Keoghs will form a new legal solutions arm within the Davies Group. Chief Executive John Whittle and his management team will continue to lead the business.
The transaction is subject to customary regulatory approvals, and is expected to close during the first quarter of 2020.