Wood Smith Henning & Berman (WSHB), a Los Angeles-based civil litigation defense firm, has announced the formation of WSHB Support Services, a management services organization (MSO), facilitated by a strategic investment from Charlesbank Capital Partners, a Boston-based private equity firm managing approximately $24 billion in assets. This partnership aims to bolster WSHB’s operational infrastructure, technological capabilities, and expansion into new markets.
Established in 1997, WSHB has grown to encompass over 550 attorneys across 43 offices in 23 states, representing insurers, self-insured corporations, and institutional clients. The firm’s commitment to client service and technological innovation has driven its expansion into diverse practice areas and geographies. Daniel Berman, Executive Chairman and Co-Founder of WSHB, will lead WSHB Support Services as Chief Executive Officer, while Stewart Reid will continue as Firmwide Managing Partner. The firm’s Management Committee, including Berman, Reid, and Co-Founders Stephen Henning and Kevin Smith, will oversee both entities.
The investment from Charlesbank is intended to support WSHB’s growth initiatives, including deepening capabilities across practice areas and investing in technologies such as artificial intelligence and data science to enhance service quality and client insights. Berman emphasized the firm’s dedication to building a forward-thinking organization that endures beyond its founders, stating, “My partners and I are energized to begin this next chapter with Charlesbank’s support. Their resources and experience will allow us to continue investing in our team and technology, better serving our clients as their trusted advisor in a complex and dynamic litigation environment.” ([wyow.marketminute.com](https://wyow.marketminute.com/article/bizwire-2026-10-19-wood-smith-henning-and-berman-announces-formation-of-mso-and-strategic-growth-investment-from-charlesbank-capital-partners?utm_source=openai))
Charlesbank’s investment in WSHB reflects a broader trend of private equity firms entering the legal sector through MSO structures. This approach allows investors to participate in law firms’ business operations while adhering to regulations that restrict non-lawyer ownership of legal practices. By investing in the MSO, Charlesbank gains exposure to WSHB’s non-legal operations, including administrative and support services, without infringing upon professional ethics rules. ([tollbit.forbes.com](https://tollbit.forbes.com/sites/johnhyatt/2026/10/19/boston-pe-firm-buys-into-a-550-attorney-california-law-firm/?utm_source=openai))
Mutian Rui, Principal at Charlesbank, expressed enthusiasm for the partnership, noting WSHB’s strong reputation and expansion into new markets and practice areas. “We couldn’t be more thrilled to partner with Dan, Stewart, Steve, Kevin, and the entire WSHB team at such an exciting inflection point for the litigation defense industry,” Rui stated. ([wyow.marketminute.com](https://wyow.marketminute.com/article/bizwire-2026-10-19-wood-smith-henning-and-berman-announces-formation-of-mso-and-strategic-growth-investment-from-charlesbank-capital-partners?utm_source=openai))
David Katz, Managing Director and Co-Head of Private Equity at Charlesbank, highlighted the firm’s experience in professional and insurance services, emphasizing their commitment to supporting WSHB’s goals of better serving clients and employees. ([wyow.marketminute.com](https://wyow.marketminute.com/article/bizwire-2026-10-19-wood-smith-henning-and-berman-announces-formation-of-mso-and-strategic-growth-investment-from-charlesbank-capital-partners?utm_source=openai))
While specific financial terms of the transaction were not disclosed, reports suggest that the deal values WSHB at approximately $700 million. This valuation underscores the firm’s significant growth and the attractiveness of its business model to investors. ([app.dealroom.co](https://app.dealroom.co/news/feed/charlesbank-backs-insurance-defence-firm-wshb-in-700m-deal?utm_source=openai))
WSHB’s decision to partner with Charlesbank through an MSO structure aligns with a growing trend in the legal industry, where firms seek external investment to enhance operational efficiency and technological capabilities. This approach allows law firms to access capital for growth initiatives while maintaining compliance with regulations that prohibit non-lawyer ownership of legal practices. ([tollbit.forbes.com](https://tollbit.forbes.com/sites/johnhyatt/2026/10/19/boston-pe-firm-buys-into-a-550-attorney-california-law-firm/?utm_source=openai))
As WSHB embarks on this new chapter, the partnership with Charlesbank is poised to provide the resources and expertise necessary to navigate the evolving legal landscape, invest in cutting-edge technologies, and continue delivering high-quality services to clients nationwide.