Knights will expand its presence in the North East following an agreement to acquire Archers Law LLP, a leading independent law firm based in Stockton-on-Tees.
Archers, one of the leading full-service independent law firms operating in the Teesside area, will see 38 fee earners join Knights, in what is Knights’ seventeenth location.
Knights said the acquisition was in line with its strategy to accelerate its organic growth through “carefully targeted” acquisitions which are a “strong cultural fit”.
Its board said it also expects Archers to contribute a PBT margin of circa 30% which, combined with a “typical level of revenue churn” post-acquisition, means the acquisition is expected to be immediately earnings enhancing.
Commenting on the acquisition, 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.”