Wood Smith Henning & Berman has formed WSHB Support Services, a management services organization that will provide non-legal operational infrastructure to the national trial firm, supported by a strategic investment from Charlesbank Capital Partners. WSHB will remain an independent law firm, and its lawyers will retain sole authority over legal practice and client matters.
Founded in 1997, WSHB represents insurers, self-insured corporations, institutional clients, and public and private companies. The firm has more than 550 attorneys across 43 offices in 23 states and has taken more than 2,000 cases to verdict. The new MSO structure is intended to give the firm additional resources for growth without changing control over legal services.
Daniel Berman, WSHB’s executive chairman and co-founder, will serve as CEO of WSHB Support Services. Stewart Reid will remain firmwide managing partner of the law firm. Berman and Reid, along with co-founders Stephen Henning and Kevin Smith, will continue to lead WSHB through its management committee and will also join the board of the MSO.
Charlesbank’s investment is expected to support expansion into new and existing geographies, further development across practice areas, and investments in operating infrastructure. WSHB also plans to increase its use of technology, artificial intelligence, and data science to enhance litigation management, client insights, service quality, and the employee experience.
Charlesbank manages approximately $24 billion and invests across business and consumer services, healthcare, industrials, and technology. Riverbrook Capital advised WSHB financially, while Piper Sandler served as exclusive financial advisor to Charlesbank. Multiple law firms advised each side on the transaction.
KEY QUOTES:
“We set out to build a forward-thinking firm that endures well beyond its founders and offers a better model for the lawyers who practice here today and in the future.”
Daniel Berman, Executive Chairman And Co-Founder Of Wood Smith Henning & Berman
“WSHB sits at the intersection of professional services and insurance services, two areas where Charlesbank has invested for years.”
David Katz, Managing Director And Co-Head Of Private Equity At Charlesbank
