Knights Group Holdings plc (LON:KGH) has announced that, further to its announcement on 25 March 2026, it has agreed to acquire the commercial and private wealth service lines of Moore Barlow LLP, a well-established, full-service regional law firm operating across the South East and South Central regions. The other service lines of Moore Barlow (Personal Injury, Clinical Negligence and Court of Protection) will be sold separately immediately preceding the Knights transaction.
The acquisition continues Knights’ focus on building scale in these attractive regions, following its recent expansion in the Thames Valley, Essex, Kent and Sussex.
Acquisition rationale and background
With roots dating back more than 220 years, Moore Barlow is one of the South East’s largest regional law firms. It was formed in 2020 through the merger of Moore Blatch and Barlow Robbins, combining complementary strengths and extending its reach across Hampshire, Surrey and the wider South East.
Moore Barlow’s service offering is a close fit with Knights’ existing capabilities, particularly in Real Estate, Private Wealth and Landed Estates, whilst it will also bring a strong Schools and Charities team, one of the leading teams in the UK in the private school advisory market. The combination creates opportunities for collaboration, cross-referrals and organic growth, supported by Knights’ well-invested central support infrastructure.
The firm currently operates from six locations: Richmond, Guildford, Woking, Southampton, Lymington in the New Forest and a small City office. Following completion, Knights plans to consolidate parts of Moore Barlow’s office network: Woking and Guildford will be combined into a new well-invested location in Guildford and the business will vacate its City office.
The acquisition will add approximately 160 fee earners, significantly expanding Knights’ service capability for businesses and private clients in this affluent region.
For the year ended 30 April 2025 Moore Barlow delivered revenue of £42m and profits distributable to members (ie pre-partner drawings) of £12m.
Draft accounts for the year ended 30 April 2026 show revenue of £45m and profits distributable to members of £13m. The part of the business being acquired by Knights represents approximately 70%, or £30m of revenue. On a corporatised basis (ie adjusting for employment costs of partners) the acquired business generated an EBITDA margin of c 4% in FY26. Post acquisition, after maximising synergy savings and accounting for normal levels of churn, the Company anticipates that the acquired business will contribute a PBT margin of c 18%. The acquisition is expected to be earnings enhancing in the first full year of ownership.
Terms of the acquisition
Under the terms of the acquisition, Knights will acquire Moore Barlow, following the disposal of its Personal Injury, Clinical Negligence and Court of Protection business, for a total cash consideration of £ 27m, subject to working-capital adjustments and on a cash- and debt-free basis. This comprises initial consideration of £18m payable on completion with the remaining consideration being payable in equal instalments on each of the first, second and third anniversaries, subject to certain conditions being met. Completion is expected to take place on 1 November 2026 subject to certain conditions being met. The cash consideration will be satisfied from Knights’ existing banking facilities. The Group continues to maintain a healthy balance sheet and expects bank covenant net debt/EBITDA to be c.1.5x by the end of the current financial year.
Commenting on the acquisition, David Beech, CEO of Knights, said:
“We are thrilled to welcome the Moore Barlow team to Knights. The acquisition gives us significantly greater scale across the South East and South Central regions, and further strengthens our expertise in Real Estate, Private Wealth and Landed Estates.
“Moore Barlow is a strong cultural and operational fit with Knights. By combining its long-established regional reputation and talented people with our scale, broader capabilities and well-invested platform, we see a compelling opportunity to deliver further growth, enhance the service offered to clients and create more opportunities for our people.”
Ed Whittington of Moore Barlow, commented:
“Joining Knights marks an exciting next chapter for Moore Barlow. The combination will allow us to build on our long heritage, strong regional presence and specialist expertise, while giving our clients access to a broader range of services and the resources of a business with national scale.
“We share Knights’ ambition to deliver premium service and believe the combination will provide an excellent platform for continued growth. We look forward to working together to support our clients, invest in our teams and realise the significant opportunities across the South East and South Central regions.”
