Manchester law firm snapped up following record breaking Stock Exchange debut
Law firm Turner Parkinson has been acquired by Knights for an undisclosed amount.
The deal has gone through following Knights record breaking flotation on the Stock Market.
Knights, which is based in the Midlands, was valued at £103m when it made its debut on AIM.
Following the successful IPO of Knights last week, the previously announced acquisition of Turner Parkinson has been completed.
The deal gives Knights access to the Manchester business market via Turner Parkinson’s base in the city.
The Turner Parkinson business has grown substantially over the last five years.
The business will continue to trade under the Turner Parkinson brand and remain in its Manchester office.
James Sheridan, from Turner Parkinson, said: “This represents a great opportunity for the team at TP to work with the wider Knights business resource and its enhanced fire power to push forward quicker and across more service lines than we were previously able to do under private ownership.
“It will be business as usual both in terms of personnel and brand, but we are looking to build quickly both organically and via strategic senior hires.
“Manchester is fast becoming capital of regional UK and this creates opportunities for us as the North West mid-market continues to develop.
“To help us capitalise on these opportunities, we need to hire the best people and we are looking to engage over coming months with the market’s leading players, identify the right people to help us drive things forward and to offer them an alternative to the big firm partnership model in a challenging and rewarding environment”.
David Beech, Knights chief executive added: “We are delighted to welcome Turner Parkinson to the Knights Group.
“We achieved our listing last Friday with a £50m fundraise by quality institutional investors which we believe is testament to our vision and strategy.
“We are excited for the future and to build our presence in Manchester with such a quality business.”
Knights was one of the first law firms in the UK to move from the traditional partnership model to a corporate structure in 2012 and has since grown rapidly, recently breaking records with its stock market debut.
