Following the successful £103m IPO of Knights last week, the previously announced acquisition of Turner Parkinson by Knights has been successfully completed.
The deal gives Knights access to the Manchester business market via Turner Parkinson’s base in the city, with it looking to grow the Turner Parkinson business significantly.
The Turner Parkinson business has grown substantially over the last 5 years to become Manchester’s leading independent business law firm, but Knights’ investment in the business is expected to dramatically enhance the offering in Manchester.
The business will continue to trade under the Turner Parkinson brand and remain in its Manchester office.
“This represents a great opportunity for the team at TP to work with the wider Knights business resource and its enhanced fire power to push forward quicker and across more service lines than we were previously able to do under private ownership” explained James Sheridan.
"It will be business as usual both in terms of personnel and brand, but we are looking to build quickly both organically and via strategic senior hires. Manchester is fast becoming capital of regional UK and this creates opportunities for us as the North West mid-market continues to develop.
"To help us capitalise on these opportunities, we need to hire the best people and we are looking to engage over coming months with the market’s leading players, identify the right people to help us drive things forward and to offer them an alternative to the big firm partnership model in a challenging and rewarding environment”.
David Beech, Knights plc CEO explained: “We are delighted to welcome Turner Parkinson to the Knights Group. We achieved our listing last Friday with a £50m fundraise by quality institutional investors which we believe is testament to our vision and strategy. We are excited for the future and to build our presence in Manchester with such a quality business.”