- Blume plans to reach £30 million in sales in 2023
- Blume also plans to further invest in its marketing operations to extend its service offerings and improve its efficiencies
- The company will join an expanded Fletchers Group and take responsibility for Fletchers’ consumer operations including the Medical Law Network
Blume announced on Thursday that is has been acquired by Sun Capital Partners with Rockpool exiting the company, having provided growth funding in March 2022. The business is on track to achieve £30 million ($34.4 million; €34.8 million) sales in 2023, according to Blume.
Blume, headquartered in Manchester, England, is a customer acquisition specialist in legal services and consumer regulated sectors. Blume will join an expanded Fletchers Group and take responsibility for Fletchers’ consumer operations including The Medical Law Network, a marketing network for medical negligence law firms owned by Fletchers and its customer-facing brand, Patient Claim Line.
The company has seen a year of record growth doubling its headcount and turnover according to Blume. Rockpool’s investment allowed the business to develop new product offerings, expand its technology capabilities and boost recruitment. Blume’s CEO Dez Derry will continue to lead the company.
Blume acquired Online Legal earlier in 2022.
“The transformation of the legal landscape in recent times makes this an exciting time for M&A,” said Alex Wyndham, principal at Sun European Partners. “Legal services is an attractive proposition, and this acquisition gives us a strong foothold in the sector.”
Sun European is the European adviser to U.S.-based Sun Capital Partners. Based in London, Sun European invests across the business services, consumer, healthcare, industrial and technology sectors.
Rockpool Investments is a London-based private equity firm that was founded in 2011. Since then, it has invested over £500 million and returned over £400 million to investors. It looks to invest in businesses with annual revenues between £5 million to £30 million.