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Leading ABS to sell off Plexus Law subsidiary as value falls
The Parabis Group, the UK's first private equity-backed Alternative Business Structure (ABS), is to sell its personal injury subsidiary after legal reforms made the venture less profitable.
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A Parabis spokesperson said: 'The sale is due to complete in November 2015 and represents a positive outcome for our people and clients alike.'
Another potential buyer
The sale is to a consortium of new owners, including founders Andrew McDougall and Tim Roberts. Discussions with another potential buyer, law firm Keoghs, fell through. The subsidiary specialises in personal injury, but changes in the insurance law industry have made that area less valuable. Source: Legal Business
