(Alliance News) - Legal services provider Knights Group Holdings PLC on Monday said it has acquired Birmingham-based commercial litigation specialists ERT Law Ltd in a deal worth GBP1.8 million.
Knights said the deal will boost its presence in Birmingham, dubbed the UK's second city.
Knights, also headquartered in Birmingham, will make a cash payment of GBP900,000 before issuing ERT shares worth another GBP900,000.
The firm explained: "ERT is a specialist in commercial litigation, servicing a number of blue-chip and FTSE listed companies. Its 24 fee earners will join the 32 fee earners in Birmingham following the acquisition of Emms Gilmore Liberson in November 2019, further strengthening the company's high quality platform in the important and attractive West Midlands region. Following completion, the total number of fee earners across the company will be 633."
Knights acquired Emms Gilmore Liberson in a deal worth up to GBP4.7 million. The company said it would make a cash payment of GBP1.4 million and issue 515,057 shares worth GBP1.7 million.
The deal also includes a deferred cash consideration worth another GBP1.7 million.
Knights shares were 2.6% higher at 347.76 pence each in London on Monday morning.
By Eric Cunha; ericcunha@alliancenews.com
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Knights Group . (KGH)