Private equity buys into £20m Cheltenham law firm as investor interest grows

Cheltenham-headquartered Montpellier Legal has become the latest UK law firm to secure private equity backing, taking funding from Foresight in a deal valuing the business at more than £20 million.

The "significant investment" from the FTSE 250-listed PE firm will support conveyancing specialist Montpellier’s regional growth plans, including new office openings across the South West. It currently operates in Bath, Cirencester, Gloucester, London, Stroud and Worcester, as well as Cheltenham.

Behind the deal

Founded in 2021 by CEO Simon Thomas - a former Wiggin associate who has launched four law firms over the past two decades - Montpellier combines digital tools with traditional conveyancing.

The firm will continue under its existing leadership and has appointed professional services growth specialist Tom Hartley as non-executive chair. Hartley was CEO of legal outsourcing business Lawyers on Demand (LOD) from 2015 to 2023. It is also recruiting a CFO to assist with expansion.

Montpellier CEO Simon Thomas said: "We are really excited to partner with Foresight as we enter the next stage of Montpellier Legal’s journey, especially given their established track record in successfully backing ambitious fast growing businesses.

"Their expertise will enable us to accelerate our growth plans whilst continuing to deliver the first-class service that our clients and introducer partners have come to expect."

Foresight’s other UK professional services investments include stakes in regional financial adviser Becketts, Manchester-based wealth manager Five Wealth and Dundee-based chartered surveyors Graham + Sibbald (Addleshaws guided it on that one).

Bigger picture

Foresight’s move adds to a growing wave of private equity investment in regional and mid-market law firms. In recent months, Greenwoods took funding from Gresham House Ventures, Leonard Curtis was sold to Pollen Street and Higgs secured backing from August Equity (Travers and Squires advised there).

Advising

Freeths and SurSum Advisory advised Foresight on the transaction, while Hopson Solicitors acted for Montpellier.