Former Dragons’ Den star James Caan has invested in another firm – SME-focused virtual practice Excello Law – just months after cementing his first foray into the legal sector.
Caan, who made his fortune in the recruitment business and appeared on the BBC’s investment TV show Dragons’ Den, has added Excello Law to his portfolio of investments at private equity firm Hamilton Bradshaw.
Excello was created in 2009 by managing director George Bisnought. It is a virtual law firm, meaning that its lawyers work from home, at clients’ offices or satellite offices, keeping overheads low. The firm focuses on advising small-to-medium sized businesses.
Bisnought could not be reached for comment on how much investment the firm received from Caan’s private equity firm Hamilton Bradshaw, or how it will use the cash.
In a statement, Bisnought said: “This is the start of a new and exciting chapter for Excello Law. Since our launch in 2009, we have been committed to developing a practice with an ethos of entrepreneurship at its heart and a strong focus on the SME sector. Through this alliance we can build upon our commitment to businesses on a national and global scale. The wealth of knowledge and expertise available to us as part of James Caan’s portfolio will enable us to develop a legal practice which offers SMEs a legal service that is unrivalled in the market place.”
Caan added: “I have been building and developing businesses for over 30 years and Excello Law demonstrate quality business values that I look for in all the firms I partner with. The legal services market is evolving and Excello is embracing these changes by providing a simple cost effective legal service. I believe that SMEs are absolutely key to the UK economy recovery and Excello are setting the standard for other firms in their sector to adapt and stay ahead of their competitors.”
At the end of 2012, Caan received approval from the SRA for his cash injection into Midlands firm Knights Solicitors (19 December 2012), which converted to an ABS on 1 January 2013.
For more on Caan’s plans for the legal sector, click here to read The Lawyer’s feature interview with him.