Knights has seen a surge in partners joining the business as it prepares for further growth in 2018.
The UK-top 100 business welcomes 16 new partners to the business who will be based across its six regional offices. Further talks are also ongoing with a number of additional partners who are looking to leave the traditional equity-partner structure.
“We’ve seen a surge in new partners looking to join our business in the first quarter of 2018, which is no surprise given that January has always been a ‘cash pinch point’ for equity-partners,” said David Beech, CEO for Knights.
He added: “In the legal sector, some traditional firms are starting to feel the financial pressures of an outdated model which doesn’t support profitable growth. For those law firms which carry excessive debt and unnecessary overhead, equity partnership is become a high-risk career move that could end in personal financial disaster.”
Knights corporatised its business model 6 years ago following the UK Legal Services Act, creating a clear separation between ownership / management and fee generation, which has enabled significant growth without financial risk for any of the 100 partners.
In 2018, Knights is building on this growth through both the recruitment of talented individuals and specialist teams as well as further acquisitions.
David concludes: “We’re open to acquiring businesses who want to embrace a new corporate culture. We’re actively in conversations with teams and organisations who want to be a part of our ambitious plans for growth.”