Nature of Funding :
Debt
Use of Funding :
Management Buy Out
Sector :
Legal
Amount :
Six-Figures
Date of Investment :
August 2024
Location :
Crosby, Liverpool
Fund :
North West Business Growth Loan
Summary
In August 2024, River Capital announced a six-figure loan to Black Norman Solicitors through the North West Business Growth Loan Fund. The funding was used to support a Management Buy Out and succession plan at the long-established Crosby-based law firm, ensuring continued success and growth.
Black Norman Solicitors, was founded in 1976 and has built a strong reputation over nearly five decades, specialising in property and private client work and the loan will enable two of the firm’s current owners & directors, Richard Entwistle and Shoab Panwar, to acquire the shares of founding partner Howard Norman, who at 74 is transitioning to a consultancy role after 48 years in practice.
Undertaking this succession plan while also focusing on future growth will see the firm create five jobs in the coming years to complement its current headcount of 30, contributing to significant job opportunities in Crosby.
Testimonial
“We’re grateful for River Capital’s support during what was a pivotal time for our firm. This funding allows us to implement our succession plan while positioning the business for future expansion that includes incorporating new talent to lead the business in the future. It’s an exciting time for Black Norman Solicitors as we build on our strong foundation and look towards new opportunities.”
Richard Entwistle Director Back Norman