Derby law firm to float in a move that values company at £100m

David Beech, CEO of Knights

Derby law firm Knights is set to float on the London Stock Exchange, in a move that will value the company at £100m.

The firms clients includes supermarket Aldi, Rolls-Royce and bookmakers Paddy Power.

David Beech says: “We have worked hard to build a resilient business model that is well-positioned to disrupt the UK legal sector and an AIM listing would enable us to continue with this journey, building on the strong momentum we have generated in recent years to become one of the UK’s leading regional law firms.

“I firmly believe that the old model for the legal sector is rapidly becoming redundant and, as pioneers in the sector following the group’s early adoption of the ABS structure in 2012, we are well placed to benefit from the continued trend of commercial clients demanding an ever more relevant and value-based service offering.”

Knights is a pioneer in the UK legal sector was one of the first commercial law firms to adopt the alternative business structure model, in order to move away from the traditional partnership model to a corporate structure in 2012.

For the year ended 30 April 2018, reported revenue was £34.9m and adjusted operating profit was £6.8m.

The group has approximately 7,500 clients with more than 70% repeat business from existing clients in the financial year ended 30 April 2018.