£10m acquisition is law firm’s fourth since June flotation

David Beech, chief executive of Knights

Listed law firm Knights has continued its acquisition spree with a £10m deal for an Oxford firm.

The purchase of BrookStreet des Roches is its fourth deal since floating last June.

It has previously bought Leicester firms Cummins Solicitors and Spearing Waite, and Manchester-based Turner Parkinson.

David Beech, chief executive of Staffordshire-based Knights, said: “We are delighted to build on our strong momentum following the three acquisitions we have made since listing in June 2018, as we continue to enhance our geographical presence and expertise through the selective acquisition of high calibre firms.”

BrookStreet’s 45 fee earners will increase the number of Knights’ fee earners in Oxford to 140 and across its eight offices to 530.

The Oxford firm generated distributable profits of £2.6m on revenue of 37.2m in the financial year to March 2018.

Beech added: “With the acquisition of BrookStreet, we add to that momentum by welcoming one of the most highly regarded teams outside London, with a particular strength in real estate. Its combination with our existing team will position us as one of the leading legal and professional services firms in the region – a transformational step for Oxford.”

The deal is expected to complete on April 1 and the payments will see the sellers receive £5m in cash and £2.5m in shares on completion, with deferred consideration of up to £2.5m cash being paid in three tranches up to 2022.

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