Split sale
Listed law firm Knights has agreed to acquire the bulk of Moore Barlow in a £27 million deal, with Fletchers Group taking on the firm’s claimant-focused teams.
Knights, a top-50 UK outfit with 29 offices across the country, is acquiring Moore Barlow’s commercial and private wealth businesses, which generate around £30 million in revenue and account for roughly 70% of the firm. The deal is Knights’ second-biggest acquisition to date, behind only its £30 million purchase of IBB Law last year.
It also comes just days after the listed firm announced the £4 million purchase of Thames Valley outfit THP Solicitors, continuing a period of rapid expansion through regional takeovers. Knights is now one of just three listed law firms on the London market, alongside Gateley and Keystone.
Under the Moore Barlow deal, Fletchers Group will take on the firm’s clinical negligence, personal injury and Court of Protection teams. The clinical negligence and personal injury lawyers will join Fletchers Solicitors, while the Court of Protection team will move across to EMG Solicitors, the specialist Court of Protection business within Fletchers Group.
Fletchers will also take control of Moore Barlow’s interest in Aspire Law, its joint venture with spinal cord injury charity Aspire. Aspire Law will become part of Fletchers Solicitors but continue to operate under its existing brand.
The deals mark the latest chapter for Moore Barlow, which was formed in 2020 through the merger of Moore Blatch and Barlow Robbins. Since then, the firm has grown from combined revenues of around £37 million to annual revenues of £45 million, while expanding its presence across London and the South East.
The sales will effectively split Moore Barlow’s existing business between Knights and Fletchers Group.
Ed Whittington, managing partner of Moore Barlow, said: “Over the past five years, Moore Barlow has built a strong commercial and private client practice across the South East, supported by exceptional colleagues and long-standing client relationships.”
He continued:
“Following careful consideration by the partnership, we concluded that by partitioning the firm into two separate entities, it would allow both sides to meet their growth aspirations. Knights have an established presence across the region, a complementary service offering and a proven track record of investing in professional services businesses.”
Wonder if these continuous acquisitions will make Fletchers increase their poor NQ pay. Last I read was that their NQ salary was £36k, although it may have gone up since then