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Bryan Cave Leighton Paisner sells stake as Lawyers on Demand bought out

Law firm Bryan Cave Leighton Paisner (BCLP) has sold its stake in LOD (Lawyers on Demand), the alternative legal services provider, in a buyout backed by Bowmark Capital, a mid-market private equity firm.

LOD CEO Tom Hartley said: “This is all about access to capital for our next stage of growth. We have been exploring alternative options since the summer of 2017 following our successful merger with AdventBalance in Asia and Australia in 2016.”

Neville Eisenberg, BCLP Partner responsible for LOD, said: “BCLP is extremely proud to have been a pioneer in the alternative legal services market. Nurturing the creation of LOD over 10 years ago, and supporting its growth and considerable influence over the legal market as a high quality provider of flexible legal services, has been an extraordinary journey for us all.

“We believe that LOD is ideally placed for further growth and that this new investment by Bowmark will help facilitate LOD’s ambitious plans. BCLP has committed to remain close to LOD, partnering with the business for its flexible lawyer needs and we look forward to seeing the results of this exciting new chapter in LOD’s development.”

Bowmark Managing Partner Charles Ind said: “We have been tracking the alternative legal services sector for a number of years and are delighted to have the opportunity to become the principal shareholder in LOD and support the whole LOD team as they build on the impressive growth they have achieved to date.”

LOD has already been a separate entity from BCLP for the last six years. Hartley said it would now look to add new service lines, geographies and technology to its existing offering for its lawyers, consultants and clients.

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