Arrowpoint Advisory advises on The LOD Group’s sale to Consilio LLC
Arrowpoint Advisory’s Business Services sector team has advised on the sale of The LOD Group (‘LOD’), the Alternative Legal Services (ALS) provider, to Consilio LLC on behalf of Bowmark Capital and the management shareholders.
LOD is one of the world’s leading providers of alternative legal and technology consulting services, working with a pool of more than 4,500 specialist legal professionals, technologists and engineers. With ten offices around the world, the group serves more than 500 multinational clients – both corporates and law firms – in 25 countries, including 27 members of the FTSE 100.
Since Bowmark supported the management buy-out of LOD in May 2018, the company has approximately doubled its revenues, significantly expanded its technology consultancy capabilities and broadened its international footprint. This has included the launch of the business in North America, the world’s largest legal services market.
LOD’s founder, Simon Harper said: “Consilio has a great story as it has a history of bringing very strategic acquisitions into its fold to become the global leader in legal consulting and services. We’re excited about our shared culture and the vision for what we can offer together to global legal teams.”
Andy Macdonald, CEO at Consilio, added: “The Flexible Talent market remains fragmented and we continue to explore opportunities to create impactful solutions for legal teams as they face an unprecedented amount of talent concerns, as a result of historically high attrition rates, budgetary freezes, and legal industry salary increases out of reach for many corporations. This acquisition brings LOD’s and SYKE’s deep expertise in flexible legal talent and legal technology consulting onboard while unlocking greater scale and capabilities for our clients.”
Lewis Gray, Director at Arrowpoint Advisory, highlighted: “We are delighted to have had the opportunity to work with the LOD team and Bowmark again after advising the shareholders on the MBO backed by Bowmark in 2018. LOD has long been the standout performer in the dynamic and rapidly growing ALS market as it has evolved its legal services, technology consulting capabilities and international footprint both organically and through acquisition. LOD has found a great home in Consilio to support its future growth ambitions.”
James Lever, Managing Director at Arrowpoint Advisory, concluded: “We are delighted to have advised Bowmark and the management of LOD on this milestone deal which represents another example of our dedicated global coverage of the Legal Services sector.”