Fast growing listed legal services consolidator Knights has strengthened its presence in the West Midlands with the acquisition of full-service firm Thursfields for £12.5m.
Thursfields has offices in Birmingham, Kidderminster, Solihull and Worcester. The acquisition brings more than 100 professionals to Knights and significantly strengthens the group’s presence in the West Midlands. In recent years, the firm has transformed itself from a traditional firm into a 'corporatised provider of legal services with a national client base'.
Knights said the acquisition is well aligned with its growth strategy. Chief executive David Beech said: 'We are delighted to acquire Thursfields, a premium, full-service law firm which shares many cultural and operational similarities to Knights, and significantly strengthens our position as a leading legal and professional services business in the West Midlands.
'With particular strength in private wealth, it further enhances our expertise in an important and growing part of our business, which will support our future growth plans.'
Michelle O’Hara, managing partner at Thursfields, said: 'Knights is a business with a similar ethos to Thursfields, with a strong culture which cultivates collaboration across its offices, to the benefit of client service. We look forward to working closely with the team and leveraging Knights’ scale, reputation and extensive capabilities, to unlock our future growth potential.'
Completion of the deal is expected to take place on 14 September.
Earlier this month, Knights announced 2023-24 profits up 17.3% to £25.3m on revenue up 6% to £150m.
Shares in Knights Group Holdings plc, which is listed on the AIM index, slipped 3% to 129p on Friday.
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