Mourant sells 27% stake to PE firm MML to fund international expansion and AI investment, marking the first private equity deal at group level for an offshore Magic Circle firm

Mourant, the offshore law firm with a headcount of around 1,000 across nine locations, has sold a minority stake to MML, a mid-market private equity (PE) firm backed by a €1 billion fund that specialises in providing minority growth capital to owner-managed businesses. The Financial Times first reported the transaction, placing the stake at 27%, though the specific deal terms were not formally disclosed by the parties. The capital will be invested into Mourant Group Limited, a holding company established last year that fully owns the group's corporate, entity management and fund administration businesses, and supplies managed services to its separate law firm entities. Control and ownership of the law firm partnerships themselves will remain with the locally-qualified partners in each jurisdiction. Mourant's existing owners are co-investing alongside MML and will retain control of both the group and its leadership. Mourant's revenue last year would, by one report's estimate, place it among the top 50 UK law firms, meaning it exceeds £127 million. The firm's client list includes Goldman Sachs and CVC. Proceeds are earmarked for technology investment including AI, international expansion, acquisitions, law firm partnerships, and lateral hiring. The transaction is described as the first time capital has been raised for the combination of legal, corporate services, and consulting services offered by Mourant, and the first PE investment at group level for one of the offshore Magic Circle firms. MML previously took a minority stake in intellectual property firm Rouse in 2022, giving it prior legal-sector experience. Pinsent Masons advised MML on the deal. Addleshaw Goddard advised Mourant. Mourant also instructed Dejonghe and Morley on elements of the transaction.

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