29 equity partners selling a law firm, and £9M of the £30M is deferred for three years

this looks odd to me. Knights Group Holdings plc bought IBB Law LLP, a South East England law firm, announced in March 2025. the price is £30M: £21M initial cash and £9M deferred over three years. cash and debt free, funded from bank facilities, completed in April 2025. the odd part is who is being paid. IBB was owned by its 29 equity partners, and a law firm is mostly the people. so the deferred £9M is presumably what keeps them from leaving, but the announcement I read doesn't say that. it just says deferred. i also can't see a spread or anything to trade here, it's a private partnership being bought. i'm only curious. is deferred money in a professional services deal normally a retention tool, or is it just a payment schedule? i don't know.