We may now be witnessing the start of a major shift in the Swedish legal sector. The private equity firm Axcel has announced an investment in a completely new type of business law advisor – AGRD Partners – bringing together six firms: Allié, Born, Morris Law, Next, Synch, and TM & Partners. Unlike traditional partnerships, this new entity will not only be owned by the lawyers themselves but also by Axcel and other employees – and, importantly, not only by lawyers. Given the Swedish Bar Association’s restrictions on external ownership, the firms involved are leaving the Bar Association to pursue this model.
The ambition is clear: bring in capabilities from IT, AI, and business development to build new solutions focused on outcomes rather than processes. This opens the door to new services, new pricing models, and new delivery methods that reflect how clients actually consume and value legal work. Instead of centering on the lawyer – or drawing lines between “lawyers” and “non-lawyers” – this could mark the beginning of a truly client-first approach. For now, however, these remain ambitions; the practical impact is yet to be seen.
Key questions now emerge:
- What kinds of services will AGRD introduce that differentiate it from traditional firms?
- How will pricing models evolve beyond the billable hour?
- What delivery structures will enable scalability and a genuine ROI on tech investments?
- How will private equity ownership influence the balance between profitability and quality of service?
- And how will other firms – and the Swedish Bar Association – respond to this disruption?
More broadly, AGRD’s launch can be seen as part of a global movement where the legal services market is opening up to new business models and ownership structures. From alternative legal service providers to multidisciplinary partnerships, clients are gaining access to a wider set of solutions that combine legal expertise with broader business insight.
At the same time, insights from the Legal Innovation Conference 2024 in London are highly releant:
- Transformation Is Already Underway: New models of delivering legal services are gaining traction internationally, and AGRD brings this development into the Nordic market.
- Investment Signals Strong Industry Interest: The legal sector is increasingly seen as attractive for capital and innovation, with new entrants challenging traditional players.
- Human Expertise Remains Central: However services are delivered, the profession’s value continues to rest on judgment, creativity, and the ability to truly understand client needs.
AGRD Partners may well be just the first step in a broader transformation of the Swedish legal market.