Inflexion invests in provider of tech-enabled conveyancing solicitors

Inflexion is pleased to announce that it has completed an investment in O’Neill Patient Solicitors, the UK’s leading B2B tech‐enabled provider of property and remortgage conveyancing services. The investment is being made by Inflexion Buyout Fund V, Inflexion’s dedicated mid‐market fund. As part of this investment, Inflexion Private Equity has also acquired Grindeys a specialist conveyancing business.
Established in 1987, Stockport‐based ONP processes over 88,000 transactions per year for residential property purchases and remortgages. The firm markets its services through its strong relationships with panel managers, mortgage brokers and banks, whose referrals make up around 90% of ONP’s businesses. The firm utilises a sophisticated case management technology which enables it to offer market‐leading service and efficiency, supporting unparalleled customer service, quality and turnaround times.
The market for residential conveyancing and remortgaging tends to be local and fragmented, with even the largest players commanding single digit market shares. This provides excellent scope for service improvement and further investment in technology via consolidation, with the purchase of Grindeys a first step towards that. ONP is also exceptionally positioned to cater to the market’s shift over the last two years towards remortgages, given management’s specific expertise in this area and tech‐platform investment to cater to this.