Bristol-based online legal services company Everything Legal, which operates the fast-growing Law on the Web and Claims Financial businesses, has been sold to leading legal expenses insurance company DAS, also based in the city.
Everything Legal founder Bradley Askew said: “This deal concludes the opening chapter for Everything Legal and opens up an exciting future for the business under the stewardship of DAS.” Financial details were not disclosed.
Tim Summers of Bristol law firm Temple Bright advised Everything Legal’s owners on the deal along with Richard Baker of Beanstalk Management corporate finance. DAS was advised by law firm Osborne Clarke, also based in Bristol, and accountants PricewaterhouseCoopers.
Mr Askew said: “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.”
Mr Summers added: “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.”
Mr Baker said: “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.”
