Knights swoops for Leicester law firm in £1.6m deal
Law firm Knights has bought Leiceter-based employment law practice Cummins Solicitors, from founder Michael Cummins, in a deal worth nearly £1.6m.
The deal follows the acquisition of Leicester law firm Spearing Waite last year.
Cummins’ five fee earners will join Knights’Leicester office. It will be rebranded under the Knights logo from February 1.
For the year ending 31 December 2018, Cummins turned over £784,000.
David Beech, chief executive at Knights, said: “We are delighted to welcome Cummins to the Group today. The firm has a strong reputation which supports our growth strategy and demonstrates the momentum we are now achieving. Michael Cummins is a respected leader in his field and the acquisition will enable us to take even more share in key geographical markets.”
Michael Cummins, founder of Cummins, added: “We have followed Knights’ impressive growth story and are delighted to be joining such an ambitious Group. We believe our niche focus on employment law will be a strong addition to the Group’s offering and we look forward to further growth as part of a larger Group.”
Meanwhile, Knights has announced that Richard King, formerly a non-executive director, has been appointed as chief operating officer. The news comes as Knights announces impressive half-year results to the end of October 2018 in which there was a 36.6% increase in revenue to £23.9m, while adjusted EBITDA grew by 49.7% to £5.3m.
