Legal sector M&A ramps up as Knights closes 22nd acquisition
Tue, 06 Jun 2023 | BUSINESS SALE
Legal and professional services firm Knights plc has continued its acquisitive expansion after completing a deal for commercial law firm Baines Wilson LLP. The acquisition is the 20th that Knights has completed since its 2018 IPO and the firm's 22nd deal in total.
Baines Wilson was founded in 1999 and has established itself as a legal expert across the North West, providing services in corporate, commercial, employment, real estate and dispute resolution. The company has offices in Carlisle and Lancaster and the deal sees 28 of its staff join Knights.
Following the acquisition, Knights now has 25 locations across the UK, following a period of busy dealmaking activity. The takeover of Baines Wilson LLP was first announced in May 2023, alongside a deal for Newcastle upon Tyne-based St James’ Square, which will become the firm’s 21st post-IPO acquisition upon completion, giving it 26 UK locations.
Knights’ M&A activity since its IPO have established it as one of the leading consolidators in a wave of professional services M&A, as well as a driving force in a growing surge of dealmaking in the UK legal sector. Since 2018, acquisitions have helped the company to grow its revenues from £35 million to £125 million and it now claims to be the largest UK commercial legal services business outside of London.
Knights Group M&A director James Sheridan said the deal cemented the company’s “position as the leading legal and professional service business outside London” and that it was seeking to further strengthen its presence across the north of England.
Knights’ client services director Lisa Shacklock added that the acquisition gives the group “a platform from which to pursue further expansion in both Carlisle and Lancaster and to expand across the region.”
Read about the growing wave of legal sector M&A in this exclusive insight.
Find out more about what's behind the intense dealmaking activity in professional services.
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