Midlands law firm Higgs has secured backing from August Equity, making it the first legal firm in the investor’s 48-strong portfolio.
The Dudley-based firm, established in the Black Country in 1875, has 28 partners, 250 employees and a reported turnover of £20 million in the year to November 2023. Last year, Higgs acquired insolvency boutique Lewis Onions and local practice MR Timms & Co. Managing partner Nick Higgs said the backing will enable the firm to expand further, add resources and enter new regions.
He added:
“With August’s support, we will build on our long-standing reputation, invest in our people, and sustain the core values that have defined our firm’s success for 150 years.”
August Equity’s Kishan Chotai and Katie Beckingham commented:
“We have invested significant time identifying the right platform in the legal space to invest in and have been consistently impressed by the Higgs team and their ambition for the business.
“We are looking forward to succeeding together through this exciting upcoming period of growth and consolidation in the market.”
The legal sector has become an increasingly attractive prospect for private equity firms, who are drawn in by recurring revenue, low overheads and the potential for market consolidation in a highly fragmented sector.
Over £1.18 billion has been invested into UK law firms since 2019, with a record £534 million injected in 2024 alone.
