Legal software specialist backed by private equity firm
Manchester-based mmadigital is on the acquisition trail following investment from UK private equity group, Rockpool.
Neither mmadigital, nor Rockpool, would disclose how much the deal was worth, however, they stated that it would enable it to grow “organically and via bolt-on acquisitions.”
mmadigital uses proprietary technology to provide lead generation for personal injury and clinical negligence law firms.
“This investment from Rockpool marks another stage in our ambitious growth plans,” said Dez Derry, CEO and founder of mmadigital.
“Internet searches for the most common consumer claims are only set to grow and we currently capture more online leads than any other provider in this space as a result of our in-house technology solutions and highly trained staff. We are actively seeking acquisition opportunities, and this investment will enable us to take advantage of those deals as and when they come to market.”
This investment marks Rockpool’s first foray into the legal services market.
“mmadigital represents an exciting opportunity for our investors to support a fast-growing lead generation business with a clear strategy for growth and a market-leading technology,” added Guy Ellis, Partner at Rockpool.
“We are very excited to be working with Dez and the rest of the leadership team to help support the business on its next phase of growth. The legal sector has shown remarkable resilience during Covid and mmmadigital’s growth during the pandemic has underlined the attractiveness of the legal market to investors and entrepreneurs alike.”
Mark Cappell, has been installed as the company’s new Non-Executive Chairman.
The transaction is subject to FCA approval.