Knights has increased its revenue by 28% in its first full year of a private equity structure, putting the business well on track to meet its goal of becoming a top 100 professional services firm by 2017.
With growth demonstrated across each of the company’s specialist areas, Knights has seen an increase in fees from £9.4m to £12m at April 2014.
Knights operates from three UK offices in Cheshire, Staffordshire and Gloucestershire. It is the first professional services firm in the UK legal sector to have raised capital through private equity investment.
David Beech is Knights CEO. He said: “Our first full year as an ABS is a significant milestone for us and we are pleased to report substantial growth which clearly demonstrates the effect of this business model being applied to professional services.
“We still have many targets to reach and there are further plans afoot within the business to get us to where we want to be. Our priority is to continue working smarter both in the way we operate on a day to day basis and in the way we make decisions.
“We will also continue with our recruitment drive to attract the very best legal and ‘non-law’ talent into our business which is central to our future growth plans.”
In the year since April 2013, Knights has appointed 13 new partners and 50 other professional team members. Its Chester office has doubled turnover and headcount and the company has invested in new open plan offices and an electronic filing system which has made significant efficiencies throughout the business.