Consultants create JV to advise firms on flotations

One of the legal market’s best-known management consultants, Alan Hodgart, has formed a joint venture with corporate finance house Lexicon Partners aimed specifically at advising firms on potential IPOs and fundraisings.

Hodgart and Lexicon managing director Angus Winther finalised details of the joint venture’s framework and format on 21 June. The new venture went live early this month and has already scheduled a meeting with a top 100 firm that has expressed an interest in a potential IPO.

The joint venture, which is still to confirm its name, has devised a three-stage process for a float, private placement or private equity sale.

An initial assessment would be followed by advice on overhauling the partner remuneration structure and conversion to a corporate structure. The final stage would be a roadshow to attract investors.

Hodgart said the model was unusual because it offered genuine legal market knowledge.

“No one’s addressing what the firm has to do to get itself into shape for a deal,” said Hodgart. “That’s what we can offer.”