London-listed law firm Knights bolsters business with Meade King acquisition

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Another London-listed company has announced plans to go private.
Another London-listed company has announced plans to go private.

Knights today acquired commercial law firm Meade King for £2.1m as the London-listed law firm pushes forwards with plans to bolster its business via mergers and acquisitions.

Under the terms of the deal, Knights – one of just six UK listed law firms – will take on 29 of Meade King’s lawyers, including four partners.

The acquisition is set to expand Knight’s reach into the wider UK by giving it a footprint in Bristol and the south-west of England.

The deal, which is set to be completed on 17 February, will see Knights pay £1.5m in cash and a further £600,000 in three installments over the next three years.

In the financial year running up to 30 April 2022, Meade King posted annual revenues of £2.7m, generating a pre-tax profit margin of circa five per cent.

Following the acquisition, Knights expects to bolster Meade King’s pre-tax profit margins to rates of 17 per cent by capitalising on their synergies.

First established in Bristol in 1790, Meade King is best known for its real estate and corporate law practices, as well as its dispute resolution and private wealth offerings.

Knights’ chief executive David Beech said: “Founded in 1790, the firm, which has a strong cultural fit with Knights, provides the group with entry into the growing Bristol market and surrounding region.  

“We are delighted to be entering a new market and scaling our operation as we cement our position as the leading legal and professional service business outside of London.”

Meade King’s managing partner James Hawkins said: “Having built a competitive position in Bristol and delivered strong growth over the past two years, we are thrilled to be joining Knights, a fast-growing legal and professional services business with a great reputation.

“As we enter the next phase of our growth as part of a larger group, we are excited by the benefits that Knights’ scale, deep central resource and unique business model will bring.”

Shares in Knights were down over five per cent in mid-afternoon trading.