• Long-term Family Office backing
  • Positive Group EBITDAW in 2024 (c. £2m) and 2025 (c. £0.5m)
  • Transformation investment phase nearing completion
  • Simplified, strategically focused platform with improved underlying fundamentals
  • Transitioning into disciplined growth, targeting £40m+ turnover through organic expansion and selective M&A 

 

Ownership / Capital Structure 

Simpson Millar LLP forms part of a privately owned legal services group. 

  • Ultimately backed by Mount Capital
  • Long-term investment horizon — focused on sustainable value creation rather than short-term exits
  • Active investor in the legal sector for over a decade
  • Founder of Doorway Capital Limited, a specialist litigation finance provider
  • Capital structure aligned to support platform development and strategic expansion 

 

Group Performance vs Statutory Reporting 

Performance is managed and assessed at Group level. 

  • 2024 Group EBITDAW: c. £2m 
  • 2025 EBITDAW expectation: c. £0.5m 

(reflecting final phase of transformation and systems investment) 

External commentary has focused on the statutory accounts of Simpson Millar LLP (“the LLP”) in isolation. 

The LLP result includes: 

  • Non-cash intra-group interest charges
  • Transformation and technology investment (fully expensed)
  • Timing differences and exceptional items
  • These accounting items materially impact the LLP statutory result but do not reflect the underlying trading performance of the wider group. 

 

Strategic Position and Outlook 

  • 3–4 year simplification programme completed
  • Exit from non-core markets — reduced scale, improved focus and profitability
  • Concentrated on Injury and Public law
  • Multi-million pound investment in new case management system (One Lit), rolling out during H1 2026
  • Platform positioned for scalable organic and M&A-led growth
  • Current scale: c. £25m billable income
  • Target: >£40m within 2–3 years