Home » UK Business News » Law firm Bermans set for expansion after MAPD Group takes 75 percent stake
https://www.whatjobs.com/news/united-kingdom/uk-business-news/law-firm-bermans-set-for-expansion-after-mapd-group-takes-75-percent-stake
Bermans, a commercial law firm with offices in Liverpool and Manchester, has been bought out and is now looking to expand.
The firm has been bought for an undisclosed sum, and the company is looking to expand.
The Wirral-based MAPD Group acquired a majority stake in the company.
READ MORE: HSL COMPLIANCE COMPLETES TAKE OVER AS IT COVERS ALL OF THE UK
The firm joins Jackson Lees, Broudie Jackson Canter, and Stoke-based Myers & Co in the group.
MAPD stands for Making a Positive Difference, which reflects the organization's mission of accelerating the growth of local law firms.
This is accomplished by providing the best possible environment for its employees, clients, and the communities in which it operates.
Bermans employs a total of 70 people. The goal is to grow the company by at least 25 percent in the next three years while keeping its brand and all of its employees in line with MAPD's philosophy.
It practices a wide range of commercial law, with a particular emphasis on asset and invoice finance.
READ MORE: HUNDREDS OF JOBS AT RISK AS FOOD PRODUCER PILGRIM’S UK PROPOSES FACTORY CLOSURES
MAPD has acquired a 75 percent stake.
One of the reasons the Bermans partners kept 25 percent is to ensure that its employees have continued access to ownership.
Following the acquisition of Bermans, MAPD will have a turnover of around £24 million.
MAPD owners Brian Cullen and Joanna Kingston-Davies, CEO and COO, respectively, are currently in talks with a number of firms about similar opportunities, backed by Shard Credit Partners.
Like Bermans, the firms fit the MAPD model of successful practices looking for enhanced operational and financial support to propel their businesses forward.
Fergal O’Cleirigh, Bermans’ senior partner, says the deal returns value to the firm’s shareholders while preserving its identity and culture: “In looking to the future, the partners agreed that securing investment was the way to fuel the next period of growth.
“MAPD is the perfect partner. Its operational expertise and financial backing, allied to a deep commitment to culture and staff, will help us achieve our ambitions for Bermans.”
Brian Cullen, added: “MAPD is a people-first business, and we knew from our first meeting with the partners that Bermans’ culture would fit ours – the initial discussions focused entirely on how to grow the business and the people within it, with no talk about finances. It also adds heavyweight corporate and commercial expertise to the group.”
Need Career Advice? Get employment skills advice at all levels of your career
He added: “We see great opportunities for strong regional law firms that need the rocket fuel we can provide to take them to the next level.
"We believe in sustainable growth, which means investing in people, delivering great client service, providing high-quality advice and ensuring a fair profit.
MAPD was created in 2020 when Brian Cullen and Joanna Kingston-Davies led a management buyout of the Jackson Lees Group with the backing of Shard Credit Partners
Source: The Business Desk
Follow us on YouTube, Twitter, LinkedIn, and Facebook.
