Bondholder Knights plc has announced that it has acquired Spearing Waite LLP (“Spearing Waite”), Leicester’s largest independent law firm.
Alongside Knights’ organic growth strategy, the Group has a successful track record of acquiring regional law firms in attractive locations across the UK. As outlined at the time of the Group’s IPO, the company has a proven method to identify, execute and integrate earnings-accretive acquisitions, demonstrating an ability to unlock value from more traditional partnership structures.
Spearing Waite’s profile as Leicester’s largest independent law firm, its highly diversified revenue base and low client, sector and fee earner concentration complement Knights own business model, as does the firm’s entrepreneurial culture and mix of both SME and blue-chip clients.
Spearing Waite will keep its branding for a short transitional period before being formally rebranded as Knights, effective from 1 January 2019.
Commenting on the acquisition, David Beech, CEO at Knights, said: “We are delighted to be acquiring Spearing Waite, a firm which is culturally aligned with Knights and one we have known for some time. They have created a strong reputation in Leicester, as evidenced by their fantastic client portfolio, and I have no doubt that they will be a great addition to our business.”
Tom Bower Senior Partner, Spearing Waite added: “We have grown Spearing Waite to be the best firm in Leicester through brilliant people acting for quality clients. To continue our growth strategy we have decided to join Knights plc, a larger business and perfect cultural fit. Knights has the ambition and the financial clout to enable the combined force to continue to thrive in Leicester. We can’t wait to get cracking with our ambitious growth plans.”