The UK’s regional professional services business, Knights, has strengthened its presence in the South East with the acquisition of Essex-based Birkett Long for an initial £10 million.
The acquisition will bring around 90 lawyers and 10 financial advisers to Knights – joining an existing team of 1,250 in 28 locations across the country – in a deal that will increase revenues to more than £200 million.
Birkett Long, which reported revenue of £14.7 million in the year ended 31 May 2024, has built a strong reputation across the South East of the country from its offices in Basildon, Chelmsford and Colchester.
The business has strong service lines for corporate and private clients. The acquisition also brings Birkett Long IFA LLP to the Knights Group, providing the rare opportunity to bring both legal and wealth advisory services under one roof.
The acquisition significantly increases Knights’ presence in the South East – building on recent expansion in the Thames Valley and reinforcing Knights’ unrivalled regional presence across the country.
David Beech, CEO of Knights, said:
"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.
“Birkett Long’s broad range of services for business and private clients, culture and operational model are an excellent fit, and we are confident that the acquisition will provide a strong platform for growth.
“We are the business that clients can turn to for professional services everywhere in the UK, and today’s news reinforces that in the South East.
“For Birkett Long’s clients, the acquisition will offer access to our full range of specialists across the UK – helping them to tackle any challenge or opportunity”.
Martin Hopkins, Managing Partner of Birkett Long, said:
"We are excited to be joining Knights following a period of growth and modernisation of our business
in recent years. Being part of a business of scale will allow us to build on our track record by continuing
to grow revenues across both the law firm and the IFA business, allowing us to provide a broader
range of services to our regional clients along with even more career opportunities for our people.
“We look forward to working closely with the team to offer a broader range of specialisms to our
clients and to unlock the significant opportunities in our market."
The total value of the acquisition is £16.6 million: this comprises an initial £10 million and deferred cash consideration of £6.6m over three years. Completion is expected to take place on 13 June.