£4.7m swoop sees ambitious law firm on expansion trail

Law firm Knights has acquired Birmingham-based legal practice Emms Gilmore Liberson for £4.7 million.

The acquisition is Knights’ fifth since its listing in 2018.

The firm, which has interests across the North West, is one of the fastest growing in the the UK.

Knights, which has its headquarters in Staffordshire, established a foothold in Manchester last year with the acquisiton Turner Parkinson and has a presence in Chester.

The purchase of the full-service independent firm, which was founded in 2011, will bring an additional 28 fee earners to the Knights group.

In its unaudited accounts for the year ending 31 March 2019, Emms Gilmore Liberson posted revenues of around £4 million.

The deal comprises an initial consideration of £3.034 million, made up of £1.367 million in cash and £1.667 million in 515,057 new ordinary shares in Knights, plus a deferred cash consideration of £1.667 million to be paid over two years, subject to conditions being met.

David Beech, chief executive at Knights, said: “We are delighted to have entered the Birmingham market today with the acquisition of EGL, which is one of the few well-established, full-service independent firms in the city.

“As our fifth acquisition since listing in June 2018, we are delighted to build on our strong momentum with the new team providing us with an exciting platform from which to grow our share in this new market, through both lateral hires and bolt on acquisitions.”