Temple Bright advises on internet legal services deal
Temple Bright advised the owners of online legal services company Everything Legal Limited on their share sale to the leading legal expenses insurance company DAS. ELL operates the fast growing Law on the Web and Claims Financial businesses.
The vendors were advised by Tim Summers of Temple Bright and Richard Baker of Beanstalk Management corporate finance. DAS were advised by Osborne Clarke and PricewaterhouseCoopers.
Bradley Askew, leading the vendor team, commented: “This deal concludes the opening chapter for Everything Legal and opens up an exciting future for the business under the stewardship of DAS. The sale process was something of an education for me and my fellow shareholders. However, in Tim and Richard we were blessed with a pair of hands-on, experienced advisers who were always available and helped to make the whole experience the positive one it has been. We have been delighted with the quality of the advice from both firms.”
Tim Summers commented: “I was excited at the prospect of advising Brad and his co-owners on a transaction involving a cutting edge legal services business, as this is a subject close to my own heart as one of the founders of Temple Bright. The deal lived up to my expectations in every way and points towards a future in which the internet plays an even more significant role in our sector. It was a real pleasure working with such commercially minded clients and first rate advisory teams on both sides.”
Richard Baker commented: “This deal offered Beanstalk Management a unique opportunity to get involved with a business at the vanguard of the rapidly evolving legal services market. This was both a privilege and a challenge given the fluid and fast moving nature of the sector and the businesses operating within it. However it was fantastic to see the transaction complete smoothly and within the parties’ timetable – a testament to the professionalism and hard work of everyone involved.”
This is a news release dated 28 November 2011.