Law firm secures £27m credit facility

Law firm Knights, which has offices in Derby and Leicester has agreed a £27m credit facility with Allied Irish Bank (GB).

It replaces the firm’s £18m facility with the bank and will be used to fund further acquisitions, according to Knights’ CEO.

David Beech, chief executive of Knights, said: “We are delighted to have agreed this new, increased facility with AIB (GB) which gives us increased flexibility and additional headroom in our facility to execute our strategy. We look forward to continuing to develop the business both organically and through the selective acquisition of high calibre firms which enhance our expertise and geographical presence outside London and drive shareholder value.”

Mike Rogers, head of the Manchester Business Centre at AIB (GB) said: “We are delighted to continue our relationship with Knights and to provide increased facilities to assist their business’s growth and acquisition strategy. We have worked with the management team for over five years and look forward to strengthening our relationship further as we support them in this exciting period of expansion.”

Knights recently swooped for Leicester law firm Spearing Waite.