LDC invests in innovative legal tech group
30 May 2023
We are building the Bar of the 21st century and LDC's experience of building tech-enabled services companies, will help us take the next step in making that happen.”
Harry Hodgkin, CEO and co-founder of TBG, added: “This investment is testament to the hard work those behind this concept have put in over the years, but it is also an opportunity for TBG and the Bar to look to the future.”
The LDC team understand our business and our sector, and they were quick to identify a number of value-add areas where they can support TBG. LDC’s regional network, which closely aligns with TBG’s proposition, their sector experience and insights were a real draw for us."
The transaction was led by Investment Directors Oliver Schofield and Stefan Gunn and Investment Manager Alex Knox at LDC in Bristol. Oliver and Stefan will join the board, with Steve Weller joining as Non-Executive Chairman and Christina Blacklaws joining as Non-Executive Director. Steve brings CEO and board-level experience of working with other private equity-backed businesses and Christina brings more than 28 years’ experience of leadership in the legal sector, having held numerous non-executive positions and as a former President of the Law Society.
Oliver added: “The team at TBG is bringing disruptive tech-enabled solutions to the legal market in a move that offers greater flexibility and alternative ways of working for the Bar, whilst importantly improving access to justice for the public. TBG has the potential to revolutionise the future of the Bar by offering a real alternative to the traditional chambers model and we’re excited to support the team as they continue to pursue their growth plans.”
The transaction marks the second investment LDC’s team in the South West and Wales has completed already this year. It follows its investment in Cardiff-based Idwal, a leading provider of tech-enabled inspection services for the global commercial shipping sector.
TBG was advised by PKF Francis Clark (corporate finance) and Michelmores (legals).
LDC was advised by GT (corporate finance and tax structuring), WBD (legals), BDO (financial & tax due diligence) and Armstrong (commercial due diligence).
Image – (from left – right) Alex Knox, Gareth Lindop, Matthew Wildish, Stephen Ward, Harry Hodgkin, Oliver Schofield, Christina Blacklaws, Stefan Gunn, Steve Weller