In these testing times, law firms need support from software systems that help them to function more efficiently.
Leeds-based Linetime, which provides software and services to the legal sector, has completed a management buyout for an undisclosed sum.
The 50 per cent stake held by former chairman, John Burrill, has been purchased by a new company owned by managing director Tony Klejnow and development director Phil Snee.
The company, which has a turnover of £2.4m, was established in 1983.
It has developed an advanced portfolio of case, practice and matter management software to provide legal practices with a service to cover all areas of their business.
Clients include high street practices as well as law firms in the UK top 200. The company also provides software and services to in-house legal departments of PLCs, multinationals and accountants
Speaking about the buyout, Mr Klejnow said: “Over the past 31 years, the team has built an excellent reputation for Linetime among the legal profession for developing software which makes practices more efficient, helps improve the services provided to clients and improves productivity.
“We are delighted to have completed the buy out of John’s stake, and we are looking forward to maintaining that success by continuing to develop software that will keep our clients at the forefront of technology.”
The management team was advised by Daniel McCormack, director in the Leeds corporate finance team at Lupton Fawcett Denison Till, who added: “We are delighted to have helped Tony and Phil complete the takeover of Linetime.
“It is a forward thinking company, with a national reputation, which is well placed to go from strength to strength under the leadership of its dynamic management team.”
The shareholders of Linetime were advised by Dave Irwin and Andrew Barlow of Sentio Partners, with Richard Dean of Milners providing separate legal advice to John Burrill.