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A growing consulting firm has found a new stock investor to fund further lawyer recruitment.

Phoenix Equity Partners announced this week its investment in national company Setfords, which has bought a stake in the company from its current shareholder, the British Growth Fund. Financial details were not disclosed.

Phoenix is ​​an independent private equity investor based in London who has invested in companies valued at up to £ 200 million. The company has made 55 investments since 2001 – including a video game tasting company, an electronic security company, and a company vehicle rental platform – and boasts of increasing its annual profits by an average of 15% over the past five years to have.

Setfords was founded in 2006 by Chris and Guy Setford and has more than 300 lawyers on its platform. The advisory model consists of bringing lawyers together under one brand and providing secretarial and administrative support in the background. It is one of a number of law firms that promise to offer a modern and flexible alternative to the traditional law firm model and hope to benefit from the possible move towards more lawyers looking to work remotely after the pandemic ends.

Phoenix’s investment will pay off in improved lead generation and technology at Setfords based on its recent experience of partnering with companies with technology-based platforms.

Will Skinner, Partner at Phoenix, said, ‘Setfords is an exciting business that is disrupting the legal services sector and the way it has traditionally been run. Guy and Chris did an excellent job building their business from scratch and developing a model that would provide a superior proposition for lawyers and clients alike. ‘

Phoenix was advised by KPMG (Corporate Finance), LEK (Commercial Due Diligence), Ernst & Young (Financial Due Diligence) and Addleshaw Goddard (Legal). Setfords was advised by lawyers Zenzic Capital, Liberty Corporate Finance, Blick Rothenberg and PDT.