Derby law firm secures multimillion pound debt funding deal
Derby Knights professional services has secured a seven-figure financing deal from Permira Debt Managers (PDM), the debt management and advisory arm of Permira.
The financing is provided by Permira Credit Solutions II, the firm’s direct lending fund.
“We selected PDM as our finance partner as they understood our vision for what we plan to achieve in the UK professional services sector. The investment has allowed us to achieve significant capital support without any change of ownership, management structure or impacting our team culture and ethos,” said David Beech, CEO of Knights.
“The Derby office has established itself well both in the city and across the wider East Midlands and this investment will allow us to strengthen our current offering which includes more non-law specialist services, alongside our legal expertise.”
Knights became the first UK commercial law firm to be granted an ABS licence and attract private equity investment.
Thomas Kyriakoudis, chief investment officer at PDM, said: “Knights exemplifies the type of successful business PDM backs and we are delighted to become a finance partner to support the management team in their future growth and strategy.”
Beechadded: “This deal highlights Knights’ appetite for continued growth within the professional services sector and builds on the strong foundations that have been achieved in the last five years.”
