I've shot LMT's for years, and compared to Knights they are the same but different. I am not sure what the relationship is between the two firms is but it appears to be very close, both make an incredibly reliable 308 gas guns. IMO each firm follows a slightly different path to arrive at that end point.
LMT's bread and butter is modularity. nobody else can offer a combat proven system that can be configured any where from a 13.5 Battle rifle to a 20 inch 6.5 long range gun for simply the cost of the barrel. The only draw back is this capability comes at a cost and that cost is weight. In its lightest configuration, its about a pound heavier than a KAC.
KAC on the other hand builds some of the finest use specific 308 gas guns on the planet. There is no other weapon on the market that can offer a combat proven system that is as light and shoots as smooth as an ACC. Its only draw back is price, A KAC upper alone cost more than a complete LMT, so its not really an option for a lot of people, so gaining a 6.5 capability is going to come at a steep price tag
Both firms make awesome weapons. I recently picked up a KAC ACC, I made that choice over the APC, because I feel that my LMT's do the heavy/accurate thing a little better than the APC, both are going to be heavy and accurate, but the LMT has the ability to be more compact, and at the same time, mount a 6.5 barrel and have a legit 1200 yard capability.