Knights Group Holdings plc, one of the UK’s fastest growing legal and professional services businesses, has bought a full-service independent law firm in Birmingham.
This acquisition Emms Gilmore Liberson takes Knights into a new key market outside London.
Founded in 2011, Emms Gilmore Liberson is an independent full-service law firm with a commercial focus which will further extend Knights’ existing corporate, dispute resolution, real estate and private client service offering. The acquisition will bring an additional 28 fee earners to the Group. The move into Birmingham also sees Knights expanding to nine offices outside London, including Cheltenham and Oxford, realising one of its key targets set at the time of IPO.
In its unaudited accounts for the year ending 31 March 2019, EGL reported revenue of circa £4 million.
Under the terms of the acquisition, Knights will acquire EGL from its four existing shareholders (“the Sellers”) on a debt free, cash free basis for a total consideration of £4.7 million.
David Beech, CEO at Knights, said: “We are delighted to have entered the Birmingham market today with the acquisition of EGL, which is one of the few well-established, full-service independent firms in the city.
“As our fifth acquisition since listing in June 2018, we are delighted to build on our strong momentum with the new team providing us with an exciting platform from which to grow our share in this new market, through both lateral hires and bolt on acquisitions.”
Stephen Gilmore, partner of EGL, added: “Since formation in 2011, we have grown EGL’s client base and team rapidly. Our high calibre team’s focus on providing a commercial but personal service to clients is closely aligned to the Knights culture and model. We look forward to continuing to deliver on our ambitious growth plans in Birmingham as part of a larger Group.”
Knights was one of the first law firms in the UK to move from the traditional partnership model to a corporate structure in 2012.