I know what you’re thinking. What is an accountant at a private equity firm doing on a list about influential people in IP?
You’d be forgiven for asking, but this next entrant’s inclusion speaks to what could become a big trend in the industry – private equity investment in IP firms.
In September, Managing IP revealed that MML Capital had bought a 35% stake in IP law and consultancy business Rouse.
London-based Devonshire, who joined MML in 2011, was the senior figure who pushed through the deal.
MML, a mid-market private equity business, purchased the share to fund future expansion plans. The 35% figure was not confirmed but was verified by senior sources in the firm as being in the right ballpark.
Sources familiar with Rouse’s strategy said the private equity investment could be a precursor to a public listing.
According to MML and Devonshire, its partnership with Rouse would help the firm deliver an ambitious growth plan.
“Our investment also crystallised the transition from a traditional partnership model to a corporate model, allowing the business to reinvest for growth,” MML said.
But the news story attracted widespread interest. Several commentators predicted the deal would be a precursor to many more in the future.
