Insider name MAPD Group’s acquisition of Bermans as Deal of the Month
MAPD now has a 75 per cent stake in Bermans with 25 per cent retained by Bermans’ partners to ensure that its people can continue to access ownership.
The aim of the deal is to grow the firm by at least 25 per cent in the next three years. It has a broad, largely commercial law practice with a particular specialism in asset and invoice finance.
Backed by Shard Credit Partners, MAPD owners chief executive Brian Cullen and chief operating officer Joanna Kingston-Davies were in talks with several firms about similar deals as they look to expand nationwide.
Fergal O’Cleirigh, Bermans’ senior partner, said on the deal: “In looking to the future, the partners agreed that securing investment was the way to fuel the next period of growth”.
“MAPD is the perfect partner. Its operational expertise and financial backing, allied to a deep commitment to culture and staff, will help us achieve our ambitions for Bermans.”