Keystone secures private equity investment
Keystone Law, which has an office in Bristol, has secured more than £3m in private equity investment.
Private equity firm Root Capital made the £3.15m and acquired a 35 per cent equity stake in Keystone from founding partner Charles Stringer. Root's managing partner Simon Philips will also sit on the firm's board and become "actively involved" in its development.
Stringer, who was IT and finance director, will retire into a non-executive director role while retaining a small interest in the firm.
Maurice Tunney has been appointed as IT director and a new finance director will join Keystone before the end of 2014.
James Knight, managing partner of Keystone, said: "We have always experienced strong organic growth and this additional capital injection will help us to realise our more ambitious growth plans.
"Root’s investment really will enable us to rapidly improve the facilities Keystone provides to its lawyers and the service it delivers to its clients. And just as importantly, we are excited to have Root as a partner in a true sense of the word."
Philips added: "We were drawn to Keystone because it stands out from the crowd as a forward thinking law firm with innovative leadership and a clear vision."
Keystone also has offices London, Guernsey, Sydney and Cape Town.