Tue, 04 Mar 2025 | BUSINESS SALE
Newcastle-under-Lyme law firm Knights has sealed its largest acquisition to date with South East based firm IBB Law.
Knights with over 1,400 staff has now made 22 acquisitions since its IPO in 2018. As part of this most recent deal 140 fee earners from IBB will join the group, boosting Knights’ presence in the South East with its four locations in Uxbridge, Beaconsfield, Reading and Ascot. With its strengths in corporate, real estate, and private wealth, IBB will bring specialisations such as franchising.
Knights is set to review IBB’s legal aid funded crime business following completion, which accounts for around 10 per cent of revenues.
Under the terms of the deal, Knights will acquire IBB from its twenty-nine equity partners for a total consideration of £30 million. An initial cash consideration of £21 million will be paid, followed by £9 million, which will be paid in three equal instalments on each of the first, second, and third anniversaries following completion, subject to certain conditions being met. Completion is expected to take place on 4 April this year.
Knights said it was attracted by proximity to areas of inward investment, major corporate clusters, affluent communities and existing offices in Oxford, Weybridge and Newbury. Profit margins for IBB are currently around 6% and Knights said it expects this to rise to 26% following the acquisition.
David Beech, CEO of Knights said: “We are delighted to welcome the high-quality IBB team to Knights, significantly increasing our scale in the attractive South East region. IBB’s premium service offerings in corporate, real estate and private wealth are an excellent fit, and their culture and operational model are very aligned to Knights. We are confident that the acquisition will provide a strong platform for organic growth in the region.”
Joanna DeBiase, managing partner of IBB commented: “We are excited about joining Knights at a time of structural change in our industry, where being part of a business of scale with a premium, national reputation is ever more important for all of our stakeholders – allowing us to provide broader services to our clients, strong career opportunities for our people, and to capitalise on our momentum, with the benefit of strong central support."
Find out more about M&A trends in the legal sector
This profitable IFA practice in Greater North London boasts steady growth and a robust client base, presenting a promising opportunity for expansion.
This is a rare opportunity to acquire a highly profitable IFA business in the North West and Cumbria, with an impressive £375m funds under management and an average portfolio size per household of just under £500k.
This well-established independent financial advisory firm in North West and Cumbria boasts £300m in funds under management and has been servicing profitable clients for 15 to 20 years.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.