RCS - Knights Group Hldgs - Convex Joint Venture

Knights groupAnnouncement

04/04/2024 07:00

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RNS Number : 2314J  Knights Group Holdings PLC  04 April 2024

Knights Group Holdings plc

("Knights" or the "Group")

Convex Joint Venture

Knights, the fast-growing regional professional services business in the UK,
today announces its joint venture with the former Convex Capital management
team to form Convex Corporate Finance Limited ("Convex").

Background

Convex, one of the leading sell-side only M&A advisory firms in the UK,
was acquired from RBG Holdings on 28 March 2024 by its management team through
a joint venture with Knights.

The primary focus of Convex is to support vendors of entrepreneur-led
businesses in maximising their equity value through sales to global strategic
acquirers. Knights' participation in the joint venture is in line with its
strategy to diversify the range of professional services available to clients
by expanding its M&A legal services into corporate finance.

Founded in 2010, Convex has advised on deals valued at over £3bn in aggregate
and is focussed on creating successful sale outcomes for its owner-managed
clients, including the recent sales of Gorilla Accounting to Azets (UK),
Thoroughbred Remedies Manufacturing to Equine Care Group (Belgium) and
Metallisation to Kymera (USA).

Knights has provided £2.55m of debt and equity financing to Convex funded
from its existing cash resources.

Rationale

As market confidence returns, the substantial professional synergies driving
this joint venture will provide Convex clients with access to Knights' legal
M&A and private wealth services at the inception of a potential disposal
ensuring high-quality legal and tax advice is available to them from the
outset of their exit strategy.

The Convex team of eleven professionals, based in the Knights office at 2 St
Peter's Square, Manchester, will work closely with its 90-strong corporate,
and 110-strong private client, teams to provide clients with a full suite of
premium, seamless services to vendors.  The broad national presence of
Knights in already established markets for Convex further enhances growth
potential.

David Beech, CEO of Knights, commented:

"Convex has built a reputation as one of the leading sell-side only M&A
practices in the UK and the cultural fit with its dynamic and hungry
management team is strong, creating a mutually beneficial symbiotic
relationship for Knights and Convex.

This JV will allow us to continue diversifying our offering to clients, who
require a broader range of services beyond legal while supporting our future
organic growth."

James Edge, Managing Partner of Convex, commented:

"We have an exceptionally talented team and strong growth ambitions which we
had not been able to fulfil under previous ownership. By management taking
control of the business, we are delighted Convex is back in the hands of
entrepreneurs with a passion to continue to provide UK entrepreneurs best in
class exit advice."

 

Enquiries

 Knights
 David Beech, CEO                                 Via MHP
 Numis (Nomad and Broker)
 Stuart Skinner, Kevin Cruickshank                020 7260 1000
 MHP (Media enquiries)
 Katie Hunt, Eleni Menikou, Rob Collett-Creedy    020 3128 8100

+44 (0)7884 494112

knights@mhpgroup.com

 

Notes to Editors

Knights is a legal and professional services business, ranked within the UK's
top 50 largest law firms by revenue. Knights was one of the first law firms in
the UK to move from the traditional partnership model to a corporate structure
in 2012 and has since grown rapidly. Knights has specialists in all key areas
of corporate and commercial law so that it can offer end-to-end support to
businesses of all sizes and in all sectors. It is focussed on key UK markets
outside London and currently operates from 23 offices located in Birmingham,
Brighton, Bristol, Carlisle, Cheltenham, Chester, Exeter, Kings Hill, Leeds,
Leicester, Lincoln, Manchester, Newbury, Newcastle-upon-Tyne, Nottingham,
Oxford, Portsmouth, Sheffield, Stoke, Teesside, Weybridge, Wilmslow and York.

 

 

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