Knights, one of the UK's fastest growing legal and professional services businesses, is pleased to announce that it has agreed a new extended revolving credit facility with Allied Irish Bank (GB) ("AIB (GB)").
The facility provides total committed funding of £27m until June 2023. It replaces the Group's existing £18m facility with AIB (GB) and is on improved terms.
David Beech, CEO of Knights, commented:
"We are delighted to have agreed this new, increased facility with AIB (GB) which gives us increased flexibility and additional headroom in our facility to execute our strategy. We look forward to continuing to develop the business both organically and through the selective acquisition of high calibre firms which enhance our expertise and geographical presence outside London and drive shareholder value."
Mike Rogers, Head of the Manchester Business Centre at AIB (GB) said:
"We are delighted to continue our relationship with Knights and to provide increased facilities to assist their business's growth and acquisition strategy. We have worked with the management team for over five years and look forward to strengthening our relationship further as we support them in this exciting period of expansion."
Read the full press statement here.