Consilio also intends to acquire UK legaltech consultancy SYKE
Lawyers On Demand (LOD) is set to be sold to global legaltech solutions and enterprise legal services provider Consilio.
Consilio also indicated that it is planning to acquire UK-headquartered legaltech consultancy SYKE. The move is intended to facilitate the expansion of Consilio’s enterprise legal services arm across the UK and to Europe, the Middle East, Africa, Asia and Australia.
“The flexible talent market remains fragmented and we continue to explore opportunities to create impactful solutions for legal teams as they face an unprecedented amount of talent concerns, as a result of historically high attrition rates, budgetary freezes, and legal industry salary increases out of reach for many corporations”, Consilio CEO Andy Macdonald said in a media release. “This acquisition brings LOD’s and SYKE’s deep expertise in flexible legal talent and legal technology consulting onboard while unlocking greater scale and capabilities for our clients”.
According to LOD founder Simon Harper, the acquisition could birth “one of the largest legal flexible talent and advisory companies in the space”.
“As we have been strategically ramping up our global Enterprise Legal Services offerings, our clients are asking us to serve them on a global basis more and more every day. The similarities between our companies in terms of culture, commitment to employee experience and client experience, and operational excellence have been remarkable. Consilio clients will immediately benefit from the in-market expertise LOD and SYKE can offer combined with our existing global enterprise offerings”, added Robb Hern, SVP of enterprise legal services at Consilio.
Jones Day provided legal advice to Consilio, while LOD and SYKE were advised by Stephenson Harwood. Alvarez & Marsal guided Consilio on the financial and tax due diligence aspects of the deal, while William Blair & Company was the financial advisor.
LOD received financial advice from Rothschild.
