Blume, the customer acquisition specialist for the legal sector, is joining Fletchers Group after being acquired by private equity firm Sun European Partners.
The deal, which is subject to approval from the Financial Conduct Authority, will give Blume greater scale and reach, and help accelerate its growth in the legal services market.
It will also allow Blume to further invest in its marketing operations to extend its service offerings, improve efficiencies and deliver greater commercial returns for its panel firms.
Sun bought Fletchers Solicitors, one of the largest medical negligence and personal injury practices in the UK, in October 2021, as the private equity firm moved to drive consolidation in the legal services sector.
Once the transaction completes, Blume will join an expanded Fletchers Group and take responsibility for consumer operations, including The Medical Law Network, a marketing network for medical negligence law firms owned by Fletchers and its customer-facing brand, Patient Claim Line.
The latest announcement comes off the back of Blume completing its first significant acquisition of Online Legal, and follows a record year of growth with the business doubling in headcount and turnover.
A funding boost earlier this year from Rockpool Investments, which will now exit the business, has helped Blume develop new product offers, expand its technology capabilities and recruit a strong multi-skilled team.
Following the acquisition, chief executive Dez Derry will continue to lead business while joining a wider group leadership team, which will also include Blume’s chief operating officer, Steve Evans, and Alex Kenny, chief marketing officer at Fletchers.
Derry said: “We are thrilled to be partnering with Sun and Fletchers who share our vision, ambition and appetite for innovation. This is a landmark transaction for Blume which will take the business to the next level, giving us the ability to rapidly grow our foundation in partnership with a very strong capital partner.
“The added firepower provided by Sun’s investment, and the opportunity for Blume to build on Fletchers’ Patient Claim Line brand and its panel of law firms is a compelling proposition for the market. It will allow us to continue to help our clients prosper by providing more choice and flexibility through a wider portfolio of products and services.
“We have built an exceptional team and this deal will open up some new and exciting opportunities. The future for Blume is brighter than it has ever been, and I would like to thank everyone who has played a part in