Law firm Knights, which has offices in Derby and Leicester, has entered Birmingham with the acquisition of full-service independent law firm, Emms Gilmore Liberson, for £4.7 million.
The company has acquired the entire issued share capital of Emms Gilmore Liberson – an independent full-service law firm with a commercial focus which will further extend Knights’ existing corporate, dispute resolution, real estate and private client service offering.
The acquisition will bring an additional 28 fee earners to the Group. The move into Birmingham also sees Knights expanding to nine offices outside London, realising one of its key targets set at the time of IPO.
An application has been made to the London Stock Exchange for the admission of 518,013 new ordinary shares to trading on AIM. Of these shares, 515,060 represent the Consideration Shares and 2,953 reflects the issue of new ordinary shares issued to two former Knights employees following the exercise of their SAYE scheme options. Admission of the new shares is expected to take place at 8.00am on 5 November 2019.
Commenting on the acquisition, David Beech, CEO at Knights, says: “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.”
Stephen Gilmore, partner of EGL, adds:“Since formation in 2011, we have grown EGL’s client base and team rapidly. Our high calibre team’s focus on providing a commercial but personal service to clients is closely aligned to the Knights culture and model. We look forward to continuing to deliver on our ambitious growth plans in Birmingham as part of a larger Group.”