Knights acquires Moore Barlow in £27m deal as buying spree continues

Knights has agreed to buy the bulk of regional law firm Moore Barlow for £27 million, completing its second-biggest acquisition to date.

The listed law firm is acquiring Moore Barlow's commercial and private wealth businesses, which account for around £30 million of revenue and roughly 70% of the firm.

Moore Barlow's personal injury, clinical negligence and Court of Protection practices will be sold separately before the deal completes.

The acquisition will add around 160 fee earners to Knights and significantly expand its presence across the South East and South Central regions, where it has been investing heavily.

It comes just days after Knights announced the £4 million acquisition of Thames Valley firm THP Solicitors.

Buying spree

Moore Barlow is one of the bigger regional firms in the South East, with roots stretching back more than 220 years. It was created in its current form through the 2020 merger of Moore Blatch and Barlow Robbins.

The firm has offices in Guildford, Woking, Richmond, Southampton, Lymington and London. Knights first revealed in March that it was in talks over a potential acquisition.

The £27 million deal is Knights' second-largest acquisition, behind its £30 million purchase of IBB Law last year, another major investment in the South East.

It also takes the number of acquisitions completed or agreed under chief executive David Beech to 30 since he took control of Knights in 2012.

Beech has built the business from a £9 million regional law firm into one of the UK's largest regional legal groups, listing it on the London Stock Exchange in 2018. Knights reported revenue of £207 million in its latest financial year.

The firm is now one of just three listed law firms on the London market, alongside Gateley and Keystone.

South East push

Knights plans to shake up Moore Barlow's office network. Its Woking and Guildford teams will be combined in a new Guildford office, while the firm's small City office will close.

Knights is paying £18 million upfront, with the remaining £9 million due in instalments over the following three years. Completion is expected on 1 November.

“We are thrilled to welcome the Moore Barlow team to Knights,” Beech said.

“The acquisition gives us significantly greater scale across the South East and South Central regions, and further strengthens our expertise in Real Estate, Private Wealth and Landed Estates.”

The deal continues an acquisition strategy that Beech recently told The Non-Billable Podcast typically sees Knights complete around three or four deals a year.