Hill Dickinson advises business solutions group Leonard Curtis on £15m joint investment
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The Manchester Corporate team of commercial law firm Hill Dickinson has advised business solutions group Leonard Curtis on a private investment that is set to take the business to the next level.
Leonard Curtis is one of the UK’s largest independent firms specialising in corporate recovery, insolvency and business restructuring.
Now, in a deal that values Leonard Curtis at £40 million, north-west based multi-family investment office, Arete, has joined forces with investment vehicle Svella, a Carlisle-headquartered investment and acquisition vehicle, to lead a £15 million private investment into the business solutions group.
Corporate partner Ian Riggs, legal director James Down and associate Harriet Adgie advised the management of Leonard Curtis on the investment.
Commenting on the deal, Ian Riggs said: “The investment by Arete and Svella has created a £40 million platform deal with huge potential for growth. In combining their resources, this deal also brings together a pool of expertise that will significantly enhance the Leonard Curtis brand, creating opportunities for all involved. We are delighted to have been part of that journey.”
Daniel Booth, chief executive, Leonard Curtis, said: “Our plans for growth have been in the pipeline for some time and this investment from Arete and Svella will enable us to fulfil these plans and reach our potential at a time where we expect a surge in demand for the services we provide.”
Leonard Curtis currently employs over 200 staff across its 18 UK offices and in the last financial year generated revenues of £25 million and EBITDA of £6 million. It offers a range of financial solutions to SMEs and businessowners, including corporate restructuring and insolvency, legal services via LC Legal and finance raising via Reach Commercial Finance.