(Alliance News) - Knights Group Holdings PLC on Thursday announced it had entered a new joint venture with the former Convex Capital management team to form Convex Corporate Finance Ltd.
The London-based professional services company acquired Convex in March, in partnership with the management team, from RBG Holdings PLC.
As a result the two company's will benefit from synergies and Knights has already provided GBP2.6 million of debt and equity financing to Convex funded from its existing cash resources.
Convex, a mergers and acquisitions advisory firm, will gain access to Knights' legal and private wealth services as well as its established market presence which will provide further growth potential.
Knights' participation in the joint venture is in line with its strategy to diversify the range of professional services available to clients by expanding its mergers and acquisitions legal services into corporate finance.
Knights Chief Executive Officer David Beech said: "Convex has built a reputation as one of the leading sell-side only M&A practices in the UK and the cultural fit with its dynamic and hungry management team is strong...This JV will allow us to continue diversifying our offering to clients, who require a broader range of services beyond legal while supporting our future organic growth."
Knights Group shares were down 1.2% to 128.50 pence each in London on Thursday afternoon.
By Elijah Dale, Alliance News reporter
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Knights Group . (KGH)
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