MBO at Black Norman Solicitors is backed by River Capital
A law firm has undergone a management buyout after securing a six-figure loan from River Capital.
The funding will support a succession plan and future expansion at Black Norman Solicitors.
The practice was founded in 1976 and specialises in property and private client work. The loan will enable two of its current owner/directors, Richard Entwistle and Shoab Panwar, to acquire the shares of founding partner Howard Norman, who at 74 is moving to a consultancy role.
It will also provide working capital for expansion plans, as the Crosby-based firm hopes to grow from 30 to 35 staff in coming years.
Jim Moore, investment manager at River Capital, said: “We're p
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