Houlihan Lokey Advises Sun Capital Partners

Houlihan Lokey is pleased to have advised Sun Capital Partners (Sun Capital) on the successful closing of its oversubscribed single-asset continuation vehicle to support the continued growth of Fletchers Solicitors (Fletchers). The transaction closed on February 10, 2026.

The newly formed continuation vehicle allows Sun Capital to continue supporting Fletchers through its next stage of growth, while also securing significant dry powder to allow Fletchers to pursue its proven buy-and-build strategy. Additionally, the continuation vehicle provided an attractive liquidity option for investors in Sun Capital Fund VII.

Alexander Wyndham, Managing Director at Sun European Partners, Sun Capital’s European advisor, commented, “This transaction represents a significant milestone for Fletchers and Sun Capital. Since our initial investment, Fletchers has delivered exceptional growth, and this successful outcome validates our belief in the company’s unique market position while securing the capital to accelerate its next phase of expansion. We are pleased to partner with such a high-quality group of investors and look forward to a successful collaboration on this continuation fund and future opportunities.”

Founded in 1987, Fletchers is the U.K.’s premier clinical negligence and specialist personal injury law firm. Fletchers’ market leadership is built on a commitment to service, having represented more than 50,000 clients in the past 10 years, and its competitive advantage is supported by its proprietary case-generation platform, which provides a consistent stream of high-quality leads. Since 2018, the firm has leveraged technology and AI to enhance client selection, case progression, and financial planning, providing strong visibility on future revenue and cash flow. With a dedicated in-house M&A team, Fletchers is also at the forefront of consolidation in the legal services sector, having successfully completed multiple accretive add-on acquisitions.

Sun Capital Partners, Inc., is a global private equity firm focused on partnering with outstanding management teams to accelerate value creation. Since 1995, Sun Capital has invested in more than 570 companies worldwide with revenues in excess of $50 billion across a broad range of industries and transaction structures. The firm has built a reputation as a trusted partner, recognised for its operational experience. Sun Capital focuses on defensible businesses in growing markets with tangible performance improvement opportunities in the business and consumer services and industrials and distribution sectors. The firm has offices in Boca Raton, Los Angeles, and New York, and an affiliate with offices in London.

Houlihan Lokey served as the exclusive financial advisor to Sun Capital and affiliates.

This transaction highlights Houlihan Lokey’s leading Capital Solutions practice and its ability to execute continuation vehicle transactions across sectors, working closely with its industry coverage teams. This transaction also demonstrates Houlihan Lokey’s Business Services Group’s expertise in the rapidly growing legal services sector.

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