Knights Group Holdings plc (AIM:KGH) acquired Cummins Solicitors Limited from Michael Cummins for £1.6 million on January 14, 2019. Under the terms of the acquisition, Knights will acquire the entire issued share capital of Cummins for a total consideration of £1.6 million, comprising of cash consideration of £1.1 million, a £0.2 million cash payment in respect of the repayment of debt and 0.1 million new shares in Knights (equating to £0.25 million). The cash consideration is subject to clawback dependent on the continued employment of Michael Cummins up to January 14, 2021. The cash consideration will be satisfied from Knights' existing facilities. For the year ending December 31, 2018, Cummins delivered revenue of £0.8 million and adjusted EBITDA of £0.2 million, a margin of 22.3% after adjusting for a normalised salary for Michael Cummins. Stuart Skinner, Kevin Cruickshank and Michael Burke of Numis Corporation Plc acted as nominated advisers and brokers for Knights Group. Knights Group Holdings plc (AIM:KGH) completed the acquisition of Cummins Solicitors Limited from Michael Cummins on January 14, 2019.