Is growth slowing at Keystone Law?
Challenger law firm Keystone Law is growing fast thanks to an innovative business model which is attracting a growing number of lawyers. But it comes at a lofty valuation and growth appears to have slowed. Our in-depth research considers whether the valuation is justified.
Keystone Law Group (LON:KEYS) is a highly profitable and cash generative challenger law firm, which was established in 2002 by current chief executive James Knight, who is also a solicitor, and Charles Stringer, who was then head of sales at the BBC. The founders identified an opportunity to provide an alternative to the traditional model for the provision of legal services and Keystone became one of the first platform models operating within the UK legal services mid-market. In 2013, Keystone took advantage of changes introduced by the Legal Services Act 2007 to convert to an Alternative Business Structure, which permits the ownership and…