Charlesbank Capital Partners has made a strategic investment in Wood Smith Henning & Berman (WSHB), a US litigation defence firm. Under the deal, WSHB has created WSHB Support Services, a separate company that will run the firm's non-legal operational infrastructure. The law firm remains independent, with its lawyers retaining sole control over legal practice and client matters—a separation that complies with American Bar Association rules barring non-lawyers from owning law firms or sharing legal fees.
Founded in 1997, WSHB has grown into a national trial firm representing insurers, self-insured corporations, and institutional clients. It now has more than 550 lawyers across 43 offices in 23 states and has taken over 2,000 cases to verdict.
Co-founder Daniel Berman will transition from executive chairman to chief executive of the MSO, while Stewart Reid remains firmwide managing partner. Berman, Reid, and co-founders Stephen Henning and Kevin Smith will continue to run the law firm, with all four sitting on the MSO's board.
Source: PE Insights · Summarized by HeadlinesBriefing