Knights strengthens position with Birkett Long acquisition
Knights has acquired Birkett Long, enhancing its South East presence and surpassing £200 million in revenue
The UK’s regional professional services powerhouse, Knights, has recently enhanced its presence in the South East by acquiring the Essex-based firm Birkett Long for an initial sum of £10 million. This strategic move will integrate around 90 lawyers and 10 financial advisers into the Knights' existing workforce of 1,250 professionals across 28 locations nationwide, thereby boosting its revenue to over £200 million. Birkett Long has developed a stellar reputation in the South East, boasting offices in Basildon, Chelmsford, and Colchester, and generated revenues of £14.7 million for the year ending 31 May 2024.
The acquisition will enable Knights to offer both legal and wealth advisory services under one roof, which is a notable advantage for clients. David Beech, the CEO of Knights, expressed his enthusiasm, stating, "We are delighted to welcome the Birkett Long team to Knights, strengthening our presence in the areas immediately surrounding London, and giving us an entry into wealth advisory, a complementary service which has been of interest for some time." He further emphasised that Birkett Long’s diverse service offerings and culture align perfectly with Knights’ operational model, laying a robust foundation for future growth.
Martin Hopkins, the Managing Partner of Birkett Long, also shared his excitement about the merger, noting, "We are excited to be joining Knights following a period of growth and modernisation of our business in recent years." He highlighted that becoming part of a larger entity would enable Birkett Long to enhance its revenue trajectory, thereby allowing the firm to provide an even broader range of services to regional clients, while also creating more career opportunities for employees.
As part of the deal, the total value of the acquisition has been set at £16.6 million, which includes an initial payment of £10 million and deferred cash consideration of £6.6 million to be paid over three years. The completion of this significant acquisition is expected to take place on 13 June. This move is a testament to Knights' commitment to expanding its footprint in the UK professional services landscape while reinforcing its status as a leading provider of comprehensive client solutions.