Law firm makes £5.2m swoop for north-east counterpart

Midlands headquartered law firm Knights has paid £5.2m to buy out Stockton-on-Tees counterpart Archers Law.

Established in 1860, Archers is one of the leading full-service independent law firms operating in the Teesside area. The acquisition sees 38 fee earners joining Knights and will be Knights’ 17th office.

In its unaudited accounts for the year ended 31 March 2021, Archers reported revenue of £4m with a profit before tax margin of around 20%.

David Beech, CEO of Knights, said: “We are delighted to announce the acquisition of Archers, a leading law firm in Teesside which further expands our footprint into the North East, a region currently undergoing significant public and private investment. The acquisition allows us to build on the existing strong presence we have established in Yorkshire in recent years and provides a compelling platform for future organic growth in the North East, as we cement our position as the leading legal and professional services business outside London.”

Chris Todd, partner at Archers, added: “After over a century of growth to become one of the leading law firms in Teesside, we are delighted to join Knights, whose culture is closely aligned to ours. We look forward to executing on the significant growth opportunities in the North East as part of a larger group, which will allow us to offer greater resources and capabilities to our clients in the region and beyond.”