Knights Expands Reach with £21 Million Acquisition of IBB Law LLP
Deal News | Mar 04, 2025 | B Daily
Knights, a prominent law firm headquartered in Staffordshire, has executed its largest acquisition to date by taking over IBB Law LLP for an initial amount of £21 million. This strategic acquisition adds 140 lawyers to Knights’ expanding national team of over 1,100 staff. An additional £9 million will be disbursed in three annual installments conditional on performance, with the takeover completion anticipated on April 4. This move is designed to enhance Knights’ presence in the South East, supported by their existing teams in Newbury, Oxford, and Weybridge. Knights CEO David Beech emphasized the fit between the companies, highlighting the acquired capabilities in corporate, real estate, and private wealth services. IBB Law, with £23 million in revenues reported for 2024, operates in several strategic locations including Ascot and Reading. Joanna DeBiase, IBB’s managing partner, expressed excitement about joining Knights, citing opportunities for expanded client services, career growth, and market strategy in the South East. This acquisition is envisioned as a platform for organic growth, aligning with structural changes within the legal industry.
Sectors
- Legal Services
- Corporate Acquisitions
Geography
- United Kingdom – The companies involved, Knights and IBB Law LLP, are located in the UK, with specific emphasis on expanding operations in the South East region.
Industry
- Legal Services – The article discusses Knights, a law firm, expanding through the acquisition of another legal entity, IBB Law LLP.
- Corporate Acquisitions – The article primarily talks about the strategic acquisition of IBB Law LLP by Knights, highlighting significant investment and expansion in the industry.
Financials
- £21 million – Initial payment amount for the acquisition of IBB Law LLP by Knights.
- £9 million – Additional payment to be made in three annual installments, conditional upon certain performance criteria.
- £23 million – Revenue reported by IBB Law LLP for the year 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Knights | Acquiring Company | Company | A law firm headquartered in Newcastle-under-Lyme, Staffordshire, looking to expand its presence in the South East of the UK through acquisitions. |
| IBB Law LLP | Target Company | Company | A law firm with operations in Ascot, Beaconsfield, Reading, and Uxbridge, offering services in corporate, real estate, and private wealth. |
| David Beech | CEO of Knights | Person | Chief Executive Officer of Knights, supporting the strategic acquisition of IBB Law LLP. |
| Joanna DeBiase | Managing Partner of IBB Law LLP | Person | Managing partner of IBB Law LLP, expressing enthusiasm about the merger with Knights. |