Law firm pen­cils in £100m float

The Sunday Telegraph - Money & Business - - Business - By Lucy Bur­ton

A LAW firm whose clients in­clude Aldi, Paddy Power and Rolls-royce is ex­pected to for­mally un­veil plans for a £100m stock mar­ket float to­mor­row.

Sources told The Sun­day Telegraph that Manch­ester-based Knights, once backed by Dragons’ Den en­tre­pre­neur James Caan, will pub­lish its in­ten­tion to float an­nounce­ment to­mor­row and go public later this month.

The London list­ing will cre­ate a huge pa­per for­tune for David Beech, the chief ex­ec­u­tive, who owns 65pc of the com­pany along with four oth­ers and will re­main its largest shareholder.

The move will see Knights join the grow­ing club of Bri­tish law firms go­ing public since le­gal own­er­ship rules changed in 2012 through so-called “Tesco law” re­forms. Rosenblatt floated in London last month, while Key­stone and Gor­don Dadds listed last year. Gate­ley was the first le­gal prac­tice to go public, in 2015.

Knights, which traces its roots back to 1759, re­ported rev­enues of £34.9m for the year to April and has of­fices in Ch­ester, Chel­tenham, Derby, New­cas­tle-un­der-lyme, Ox­ford and Wilm­slow. It ac­quired Manch­ester-based ri­val Turner Parkin­son last month.

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