Bondholder Knights Professional Services has been recognised as the second fastest growing independent firm in the UK, according to The Lawyer UK 200.
The news comes at a time when Knights' CEO David Beech is considering the next stage in the company's expansion plans.
Knights was one of the first in the legal sector to secure private investment and embrace the Alternative Business Structure (ABS) revolution, moving away from the traditional equity partnership model.
David Beech said: "To be named as the second fastest growing firm is down to investing in our team and an ongoing recruitment drive to secure the most talented experts in our regions.
"Knights is now based across four sites in Staffordshire, Gloucestershire, Cheshire and Derbyshire. Future acquisitions and increased recruitment of professionals who seek to join a functional business and cohesive culture are integral to our ambitious growth plans.
"Our expansion will also focus on growing other professional services in addition to law as part of a wider offering to service all of our clients' business needs."
Knights continues to grow this year and is currently on track to have its most successful year to date in terms of turnover and recruitment.