Funny how certain names crop up and, when they do, resonate.
One aspect of today’s story about high street brand QualitySolicitors’ private equity investment (see story) that has been overlooked is the presence close to the deal of one of Palamon Capital Partners’ advisers: Simon Olswang.
Olswang, the eponymous founder of the £92.6m Holborn firm, was not formally involved in the deal but is understood to have given QualitySolicitors bosses Craig Holt and Saleem Arif advice about growing their business.
Not that they appear to need it if the current business plan is anything to judge by. Today QualitySolicitors has 220 branches. Within 18 months Holt and Arif, backed by Palamon’s muscle and a revved-up national marketing campaign, hope to get that to 1,000.
It’s only days since the Legal Services Act allowed private equity investments and already the market has been shaken up.
Expect much more to follow.