Our client operates a group of law firms in the financial claims industry specialising in Mis-sold pension claims, Investment mis-selling and Authorised Push Payment (APP) fraud claims.
They came to us seeking growth capital to acquire new “books” (portfolios) of claims worth over £100 million in client value and over £30 million in potential fees.
We reached out to a selective shortlist of private funders within our network who would meet the criteria for this opportunity. We found the right backer for our client, presented the case and moved the process forward to the point where meetings were held with all parties. These went well, as did early due diligence. Terms were then offered for £2m and agreed with our client.
Legals actually took longer than everyone anticipated, but all parties stuck at it and were delighted to close. Drawdowns are at our client’s request, the first happened at completion, the second is due very soon.
We are really pleased to see our private funder and client working well together.
As a result of this injection of capital, our client will increase their pipeline value, accelerate client onboarding (up to 200 new clients per month) and realise fee income more quickly.
Client comments: “We are delighted with the outcome, thank you to everyone at BYC for your efficiency & diligence. We have confidence in recommending BYC to anyone, so much so that we have another project in mind that we would like BYC to work on for us in the coming months ahead.”
