Manchester law firm is snapped up by leading UK business

Law firm Knights 1759 has announced that it has agreed to acquire Manchester based Turner Parkinson.

The acquisition is expected to complete in the coming weeks and will increase Knights’ presence in the North West, adding 60 new employees in its seventh regional office.

Turner Parkinson was first established in 1995 in the North West and has grown rapidly over the last six years.

The firm has a strong client database of entrepreneurs, corporates, private equity houses, small and mid-cap plc’s and emerging high growth companies.

Its revenues for the year ended 30 April 2018 were £8.5m, representing 11% organic growth on the prior year.

Aside from Mark Openshaw-Blower, the managing partner, who is set to retire, Turner Parkinson’s senior management team will be staying with the business following the transaction.

The acquisition will be Knights’ fourth in five years. These acquisitions, alongside the group’s organic growth strategy, has seen Knights deliver topline growth at a compound annual growth rate of 32% over the past five years, making it one of the fastest growing professional services business in the UK.

The deal will increase Knights’ staff to over 500 people servicing 7,500 clients across the full spectrum of legal & professional services.

David Beech, chief executive at Knights, said: “We are delighted to be working with Turner Parkinson. They are market leaders in their field and their innovative and entrepreneurial culture is very similar to our own.

“They bring with them a quality client list and a renowned reputation for excellence so we are incredibly excited to be working with James and the team.”

James Sheridan, head of corporate at Turner Parkinson added: “Knights has a strong business model, with a highly regarded client base and are pioneers of an ownership model that represents the future of the legal industry.

“We have worked hard to build a strong, profitable and cash generative business and I am confident that this, alongside Knights’ fast growing regional professional services business, will result in a business that is even better positioned to meet the needs of our clients and employees.”