Knights’ Bold Moves and Strategic Growth in the Legal Sector

Article written by Laetitia Ponde Nkot

The legal services firm Knights has enhanced its footprint in the West Midlands through the acquisition of a company with a legacy that dates back to 1876. 

In a statement to Insider, Knights’ chief executive David Beech revealed that the takeover of Thursfields Solicitors is an integral part of the firm’s plan to nearly double its number of offices nationwide to 40 within the next three to four years. With a team of about 100 employees, Thursfields operates offices in Worcester, Birmingham, Kidderminster, and Solihull.

While Thursfields excels in sectors such as corporate and private wealth, for Knights, the primary appeal lies in its  location in Worcester,  which is strategically situated between their offices in Birmingham and Cheltenham. This allows Knights to enhance their presence for greater market dominance in the area. 

In the last few years, Thursfields has transitioned from a traditional law firm to a corporatised entity offering legal services to a national clientele. Knights shares a comparable ethos with Thursfields characterised by a strong culture that promotes collaboration among its offices, ultimately benefiting client service, stated Michelle O’Hara, managing partner at Thursfields, ‘We anticipate a close partnership with the Knights team, utilising their scale, reputation, and comprehensive capabilities to drive our future growth.’

This transaction, valued at £12.5 million, was officially completed on 14 September. This marks Knight’s 20th acquisition since its initial public offering (IPO) six years ago, a strategic move that has increased its employee count to around 1,500. 

Knights distinguished itself as one of the pioneering law firms to go public, making its stock market debut in 2018 boasting a valuation of £103 million. Since then, the firm has pursued an aggressive national acquisition strategy, acquiring well-known Midlands firms such as Fraser Brown in Nottingham, Spearing Waite and Cummins in Leicester, and Dakeyne EMMS Gilmore Liberson in Birmingham. In its most recent financial disclosures, Knights achieved a pre-tax profit of £11.5 million from a turnover of £142 million. According to the firm, the expectation is for growth to reach 30% after the merger is completed.

Knights endeavours to partner with firms that align with its cultural values. A notable example of this strategy is their acquisition of St James’ Square, a law firm offering a full range of services in Newcastle upon Tyne. 

Harnessing the client relationships from acquired firms guarantees continuity and improves the breadth of service offerings. The integration of these relationships enables Knights to maintain key talent and reinforce its competitive position in the industry. 

In total, Knights has successfully acquired 23 law firms. Their methodical approach to acquisitions affords them to strategically strengthen their capabilities in a targeted manner. The emphasis placed by Knights on cultural fit, client service excellence, and strategic expansion  is instrumental in their success to retain talent following acquisitions.

Knights’ growth trajectory continues to influence its standing within the legal sector.