LDC bags minority stake in The Barrister Group

• TBG is the second investment LDC’s team in the Southwest and Wales has completed this year
• The transaction was led by Oliver Schofield and Stefan Gunn, investment directors, and Alex Knox, investment manager at LDC in Bristol
• LDC is the private equity arm of Lloyds Banking Group and is headquartered in London

LDC has made a minority investment in The Barrister Group (TBG), a technology-enabled legal services company.

No financial details of the transaction were disclosed.

TBG, the umbrella group for Clerksroom Chambers and Clerksroom Direct, is based in Temple, England.

LDC’s investment will enable TBG to attract more barristers and instructions with its alternative chambers model, while supporting existing members and investing further in its proprietary technology to support the growth of the business, according to a release.

The transaction was led by Oliver Schofield and Stefan Gunn, investment directors, and Alex Knox, investment manager at LDC in Bristol.

“TBG has the potential to revolutionise the future of the Bar by offering a real alternative to the traditional chambers model and we’re excited to support the team as they continue to pursue their growth plans,” said LDC’s Schofield.

Schofield and Gunn will join the board with Steve Weller joining as non-executive chairman and Christina Blacklaws as non-executive director, the release added.

TBG is the second investment LDC’s team in the Southwest and Wales has completed this year. It follows its investment in Idwal, a provider of tech-enabled inspection services for the global commercial shipping sector.

LDC is the private equity arm of Lloyds Banking Group and is headquartered in London. The firm has a UK-wide network of regional offices.

LDC was advised by GT (corporate finance and tax structuring), WBD (legal), BDO (financial & tax due diligence) and Armstrong (commercial due diligence).