PDT advise on £3.75m investment by Business Growth Fund
Published: 08 March 2017
PDT’s corporate team is delighted to have advised the management team of Setfords Solicitors (Setfords) on an investment of £3.75m by Business Growth Fund plc (BGF) to assist the company with its expansion plans in the legal market.
"Having worked at PDT for a number of years I knew Noel Ruddy to be one of the best in the business and it's fair to say the whole team did a brilliant job. Thanks to PDT's advice and assistance the legal process from start to finish was completely painless"
Chris Setford, Director, Setfords Solicitors
Established in 2006, Setfords is one of a new breed of Dispersed Law Firms operating a consultancy based network model as an alternative to the traditional law firm. The unique model operates on a fee-share basis with remote based consultant lawyers. Setfords now represent one of only a handful who operates a consultancy model, and unlike other law firms they offer their consultants careful management and support, with well established systems and a central office overseeing operations. Founded by Guy Setford, the firm has rapidly grown nationwide with now over 160 consultant lawyers. Christopher Setford joined the business in 2009, with David Rogers coming on board in 2015 as Managing Director to assist in taking the business through its next growth phase.
Setfords have grown their revenues to more than £8m and the investment by BGF will enable them to continue to expand their digital marketing and technology enhancements, as well as the recruitment of additional legal consultants.
The team at pdt was led by Noel Ruddy, Head of Corporate, assisted by Aysha Hussain.
“Chris Setford and David Rogers were both former employees of PDT so it has been a particular pleasure to see them build a business of their own which has become so successful in the legal market. It’s hard enough starting any business but to build a new model law firm is a tribute to their hard work, vision and sheer determination to succeed. With the backing and support of BGF, Chris, David and Guy could not have found a better partner to help them continue the growth of Setfords and I wish them every success for the future.”
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