Knights and Fletchers Carve Up South-East Firm Moore Barlow in Split Acquisition
Listed law firm Knights has agreed a deal to acquire the commercial and private wealth practices of South-East firm Moore Barlow. Private equity-backed Fletchers is taking Moore Barlow's personal injury, clinical negligence and Court of Protection work, along with its stake in the Aspire Law joint venture. The transaction divides Moore Barlow along practice-line boundaries, with Knights absorbing the commercial and private wealth work, around 70% of the firm by revenue, and Fletchers taking the claimant-side practices. Knights is paying £27m on a cash- and debt-free basis, made up of £18m on completion, expected on 1 November 2026, and £3m on each of the first three anniversaries. Moore Barlow reported revenue of £45m and profits of £13m for the year to 30 April 2026. The split structure, a listed consolidator pairing with a PE-backed personal injury specialist to carve up a mid-size regional firm, is notable as a model for how law firm M&A is evolving in the UK market, where different acquirers pursue different practice-line exposures rather than whole-firm takeovers.
Why this matters
The dual-acquirer structure signals that whole-firm takeovers of regional law firms are giving way to targeted practice-line carve-outs, with listed consolidators and PE-backed operators each pursuing the segments that fit their growth models. For Moore Barlow's clients and partners, the split raises immediate questions about continuity of service and team cohesion. Knights is paying £27m for practices representing roughly £30m of revenue and about 160 fee-earners, with completion set for 1 November 2026.
On the Ground
The transaction activates corporate M&A, employment (TUPE implications for transferring staff), and real estate (office lease transfers) work streams. On the regulatory side, SRA notifications and professional indemnity run-off cover for any residual Moore Barlow entity will need to be managed. A trainee on this deal would likely be tasked with drafting the due diligence checklist, tracking regulatory filings, and coordinating data room access across the two separate buyer teams.
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