Knights Group to Buy Archers Law for GBP5.2 Mln - MarketWatch

Knights Group Holdings PLC said Monday that it has agreed to acquire Archers Law LLP and has secured a revolving credit facility for 60 million pounds ($82.1 million) for the funding and other growth opportunities.

The legal and professional services business said that it will pay GBP5.2 million for the acquisition, which comprises an initial consideration of GBP3.7 million.

The company said it will replace its existing GBP40 million revolving credit facility with the new facility, secured with HSBC UK, Allied Irish Bank and Lloyds Bank.

"The facility will provide us with additional headroom to build upon the critical mass achieved this year, continue to scale our business across the U.K. organically and through selected acquisitions, and execute our strategy," Chief Executive David Beech said.

Write to Sabela Ojea at [email protected]; @sabelaojeaguix

source: https://www.marketwatch.com/story/knights-group-to-buy-archers-law-for-gbp5-2-mln-271635758024

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