NatWest backs Knights’ next phase of UK growth with £42 million funding package

NatWest has committed £42 million to a new £159 million funding package for legal and professional services group Knights, which is headquartered in Staffordshire, giving the fast-growing business greater firepower to pursue acquisitions across the UK and invest in its technology platform.

The new revolving credit facility, provided by a three-bank consortium, represents a significant increase on Knights’ previous £100 million facility and is committed until July 2029.

It comes as Knights accelerates its expansion across the UK’s regional legal market.

The group, which has offices nationwide, has grown through a combination of successful acquisitions and organic growth since adopting a corporate structure in 2012.

Knights reported a 28 per cent rise in revenue to £207.7 million for the year to April 30, meaning the business has doubled its revenues over the past five years. Underlying profit before tax increased by 19 per cent to £33.2 million.

The enlarged facility will provide additional capacity for Knights to acquire high-quality legal and professional services businesses, expand into new markets and strengthen its presence in existing locations.

It will also support further investment in technology and artificial intelligence as the business looks to automate processes, improve productivity and deliver services more efficiently across its national network.

Will Jones, relationship director at NatWest, said: “Knights has challenged the traditional law-firm model and built one of the most distinctive growth businesses in the UK professional services market.

“Its combination of national scale, strong regional roots and a proven acquisition strategy has driven significant growth. This new facility gives the business the capacity to move decisively on further opportunities while continuing to invest in the technology and infrastructure it needs for its next stage of development.

“We have supported Knights as it has grown, and our increased commitment reflects both the strength of that relationship and our confidence in its strategy.”

Knights’ growth continued in 2025 with the acquisitions of IBB Law in the Thames Valley, Birkett Long in Essex, Rix and Kay in Kent and Sussex, as well as organic market-entry in Cardiff - its first office outside of England. The group has also continued to invest in its own technology, including secure AI tools for client onboarding, workflow management and other business processes.

David Beech, chief executive officer of Knights, said: “Our regional markets are changing quickly, creating significant opportunities for a business with the scale, financial strength and operational platform to invest and grow.

“The increased facility gives us additional flexibility to pursue high-quality acquisition opportunities while continuing to invest in our people, technology and services.

“NatWest has been a valued banking partner throughout our growth journey. Its understanding of our business and ability to support our evolving funding requirements have helped us put the right foundations in place for our next phase of growth.”

NatWest increased its participation in the banking facility from £27 million to £42 million. The transaction was delivered by NatWest’s Structured Finance team, working alongside its relationship banking specialists.