The owner of the WWL lawyer directory has been sold to a private equity company.
Law Business Research, the London-based legal publisher, has been sold by Bowmark Capital to another investor, the US private equity firm Levine Leichtman Capital Partners.
Founded in 1995 by Richard Davey and Callum Campbell, Law Business Research publishes numerous respected legal titles such as Global Competition Review, Global Arbitration Review, Getting the Deal Through, and Latin Lawyer.
According to Bowmark Capital, Law Business Research has more than doubled its sales and profits and grown employee numbers by 80 per cent since 2013 – the year that Bowmark acquired the business.
Since that time Law Business Research has added new titles such as Global Investigations Review and Global Restructuring Review, which are modeled on the successful Global Competition Review and Global Arbitration Review format of specialist content and surveys.
In addition, the company launched a new product called the Arbitrator Research Tool that provides information on arbitrators who have recently appeared in proceedings.
Deal terms have not been disclosed but the Betaville website hinted that Law Business Research could be worth up to £150 million, while Mergermarket speculated that the valuation could be more than 10 times earnings of £10-£12 million.
Stephenson Harwood advised Bowmark Capital, and Kirkland & Ellis advised Levine Leichtman.
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