Harrogate-headquartered IDR Law secures £3.25m growth capital investment from BGF

Commenting on the deal, Martin Holdsworth, founder and CEO of IDR Law, said: “By its nature, our work is very emotive, so it’s crucial for us to deliver the best possible service to referrers and clients. We have identified opportunities for significant growth, but we will only take on cases where we genuinely believe we can help someone reach their goals. BGF understood what we are looking to achieve and that it’s essential we continue to do this in the right way.

He added: “Our business is built on strong foundations because of our focus on our people and culture.

"From day one, we were set up to work remotely so we could offer our lawyers the opportunity to work flexibly with paid overtime and a healthy balance between work and home.

"Because of this, we’ve been able to attract the best talent with a 20-strong team based across the UK with 90 per cent of our workforce made up of women. It’s also the most productive and engaged team I’ve experienced working with.”

The deal was led by Chris Boyes and Linda Nguyenova, who are investors in BGF’s Yorkshire-based team.

Mr Boyes, added: “Martin has taken an entrepreneurial and innovative approach to a traditional industry and has experienced excellent growth to date, while creating a great place to work.

"With fresh investment and BGF’s experience of adding value to businesses as they scale, IDR Law is perfectly placed to accelerate its expansion.”

Charles Layfield, who already chairs a number of businesses in the legal sector, will join the board as non-executive chairman.

IDR Law’s management board comprises existing partners Richard Thomas, Cara Hough and Eleanor Stenson along with head of marketing, Lindsay Gibson and Richard Stewart as incoming new head of finance. BGF was set up in 2011 and has invested £3.5bn in more than 500 companies.

Advisers to BGF on the transaction included Freeths and the Tax Advisory Partnership while ALT Legal and corporate finance consultant Paul Lupton advised IDR Law, which has its headquarters in Harrogate. BGF was set up in 2011 and has invested £3.5bn in more than 500 companies.