Hill International snaps up Knowles for £7m

Acquisitive firm Hill International today announced it had bought listed dispute firm Knowles, valuing the firm at £7m. The move follows the decision by Knowles founder and chairman Roger Knowles to step down and sell his 60% stake in the firm.

A statement on the Stock Exchange said Hill had paid a 22% premium on the Knowles shares, which are currently valued at 27p. The deal follows Hill buying fellow UK firm Pickavance Consulting late last year.

Hill chairman and chief executive Irvin Richter was bullish about the deal. "I believe that the combination of Hill and Knowles will create on of the most pre-eminent consultancies in the world focused on helping clients and resolve construction claims and disputes."

Founder Knowles added: "There is a close cultural compatibility between the two groups, which should facilitiate a smooth integration of the businesses and which both boards see as vitally important for clients and employees."

QS News named Hill as one of the suitors for Knowles in March.