Keoghs looking to raise capital from Bowmark

Keoghs, an ambitious law firm with head-quarters in Greater Manchester, is reported to be in exclusive talks with private equity firm Bowmark Capital about taking external investment, after seeking advice from Deloitte last month.

Keoghs is an insurance fraud specialist with 57 partners (16 of whom are believed to share in equity) and more than 900 staff, making it one of the largest regional players.  It  is estimated by The Lawyer UK200 to have had a turnover of £41m in 2010-11, with an average profit per equity partner of around £420,000.  Last month it announced plans to create up to 50 jobs in Bolton this year in its counter-fraud services arm.


City-based private Bowmark, formerly known as Sagitta Private Equity, specialises in mid-market investments in the business services sector as well as healthcare, leisure, media and IT and is believed to have beaten off competition from several rivals, including LDC, who also wanted to invest.


This development comes hot on the heels of Duke Street’s investment in the Parabis group and shows that there is considerable private equity interest in the sector.