Liverpool and Manchester law firm set for “significant growth” as MAPD takes majority stake

Liverpool and Manchester based commercial law firm Bermans is planning “significant growth” in the coming years after Wirral based MAPD Group took a majority stake in the business.

It joins North West based Jackson Lees, Broudie Jackson Canter and Stoke based Myers & Co in the Wirral based MAPD Group, whose name stands for Making A Positive Difference.

Bermans has 70 staff in total. The aim is to grow the firm, which will retain its brand and all of its people in line with MAPD’s philosophy, by at least 25 per cent in the next three years. It has a broad, largely commercial law practice with a particular specialism in asset and invoice finance.

MAPD has taken a 75 per cent stake. One of the reasons the Bermans partners have retained 25 per cent is to ensure that its people can continue to access ownership.

MAPD will have a turnover of around £24m following the addition of Bermans, an £8m turnover business. Backed by Shard Credit Partners, MAPD owners Brian Cullen and Joanna Kingston-Davies, respectively CEO and COO, are currently in talks with a number of firms about similar deals as they look to expand nationwide.

Fergal O’Cleirigh, Bermans’ senior partner, commented: “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, who along with Joanna is joining the Bermans board, 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. Bermans has all the ingredients we look for and will make for a great addition to MAPD.”

MAPD’s advisers were David Malone, Natasha Lackner and Craig Geraghty at O’Connors (legal), James Curtis and Connor Monaghan at DSW (corporate finance) and Andrew Cameron at Ryecroft Glenton (financial due diligence).

By Matthew Neville – Correspondent, Bdaily

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