Knights Group Holdings plc, one of the UK's fastest growing legal and professional services businesses, has today announced the exchange of contracts to acquire ASB Law LLP, including Connected Company ASB Aspire LLP.
This acquisition significantly increases Knights’ footprint and represents Knights’ entry into the strategically attractive South East market, which is estimated to be valued at £246m excluding London, and is well located to recruit high calibre talent. Bringing Knights’ expertise, scale and breadth of services to ASB’s large corporate relationships is expected to drive revenue growth in the business. In turn, Knights expects to leverage the niche specialisms that ASB brings, for instance in aviation, across its wider geographical footprint.
The acquisition of ASB, together with the acquisition of Shulmans LLP and Placing (also announced by Knights today), is expected to be earnings enhancing by a high single digit percentage in the financial year ending 30 April 2021.
Following completion of these acquisitions, the Group will have 900 fee earners across 15 office locations.
David Beech, CEO of Knights, commented:
“We are delighted to announce the acquisition of ASB today, marking our entry into the important South East market with this quality full service commercial law firm which is recognised as Top 200 UK Law Firm by revenue1."
“With its ambitious teams and progressive approach to law, ASB has a strong cultural fit with Knights and provides an exciting platform for growth in the South East, in line with our strategy to build the leading legal and professional services business outside London.”
Andrew Clinton, Managing Partner of ASB commented:
“We are delighted to join Knights, which we chose for its close cultural fit including its strong values and innovative and ambitious approach to challenging established norms within the legal sector. I’m very proud of how much we’ve achieved to date and believe that Knights’ scale and ability to invest in our team will enable us to realise our full potential and bring a broader range of services to our large corporate clients.”