Knights makes fourth acquisition this year as Wales is ticked off

Listed firm Knights has extended its reach into Wales with the low-key acquisition of a small Cardiff firm.

The consolidatory firm has taken on six commercial and residential property fee earners as part of the deal to buy Le Gros Solicitors. The purchase was not big enough to require it to be announced to the London Stock Exchange – the second such time in succession that Knights has not had to disclose details of an acquisition.

Former managing partner Claudia Le Gros founded Le Gros in 2011 and will be one of the six moving across to Knights – taking its total network to 1,350 lawyers across 32 locations. Knights had already hired four lawyers – Will Baird, Stewart Knights, Shaun Thomas and Scott Keddle – in the first wave of hires to create a Cardiff team.

This week’s acquisition gives the firm its first entry into Wales – effectively sealing up the last unrepresented part of England and Wales in the Knights collection.

David Beech, chief executive of Knights, said: ‘Claudia and the team bring an excellent reputation and lots of complementary expertise to Knights – and strengthen the team of specialists with experience in South Wales that we’re building. They are well known for great service and putting people first in their work, so they will be an excellent fit for our nationwide property team.’

Le Gros said in a Linkedin post it was ‘time to close one chapter and begin another’. ‘I’m so proud of what we have achieved as a team and looking forward to what comes next,’ she added.

The latest accounts for Le Gros Solicitors, for the year to 30 June 2024, show the business employed 15 people at the time and had cash reserves of £332,000. The firm had net assets of £640,000 which had increased by 13% year-on-year.

Knights continues to regularly snap up law firms from different regions of the country. Since April it has bought south east firm IBB Law for £21m (rising to £30m), Essex-based Birkett Long (£10m rising to £16.6m) and south east firm Rix & Kay Solicitors (undisclosed).

Shares in Knights Group Holdings plc rose marginally today to 174.5p.