Listed law firm Knights buys 60-year-old Surrey firm
UK law firm Knights will acquire Surrey-based Mundays for £5.3m in a move that will increase the group’s presence in the South East.
Knights will pay £3.93m up front for the smaller law firm, followed by cash payments worth £1.375m to be paid over two years.
Knights CEO David Beech said: “The acquisition of Mundays further builds our position in the South East, providing a strong platform from which to recruit talented lawyers that no longer wish to commute into London, as we continue to grow our national presence.”
Mundays was established more than 60 years ago in Weybridge. It is a full-service law firm, with a corporate, real estate and private client offering.
The acquisition will see 34 fee earners join Knights.
Knights, which is listed on AIM, saw its share price rise by 3.69 per cent to around 450p per share.
Mundays managing partner Neale Andrews added: “Having built a strong and diverse client base over recent years, we look forward to being part of a larger group with the resources to execute on ambitious growth plans, offering exciting career opportunities to our team.”
Knights employs around 900 lawyers. It moved away from the partnership model in 2012 and became a listed company just two and a half years ago.
This latest acquisition is part of Knight’s plan to grow through acquisitions and more hires.