RCS - DSW Capital PLC - Expansion of DSW Tax Advisory capabilities

DSW CapitalAnnouncement

29/09/2023 07:00

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RNS Number : 0602O  DSW Capital PLC  29 September 2023

 

REACH

29 September 2023

DSW CAPITAL PLC

("DSW Capital", "DSW" or the "Group")

(AIM: DSW)

 

Expansion of DSW Tax Advisory capabilities

 

DSW Capital, a profitable, mid-market, challenger professional services
licence network and owner of the Dow Schofield Watts brand, is pleased to
announce that it has supported DSW Tax Advisory's acquisition of STS Europe
Ltd ("STS") to bring new, complementary capabilities to the business.

 

STS advises clients, including UK-resident non-domiciles, on matters such as
inheritance tax, trusts and offshore structures, and also assists offshore
banks and trust companies throughout Europe with UK tax issues and is one of
the leading firms of its type in the North.

 

STS will be integrated under the DSW Tax Advisory brand, taking its Fee
Earners to three.

 

The acquisition of STS takes DSW's total Fee Earners to 105, operating from 10
locations across the UK.

 

James Dow, Chief Executive Officer, said:

 

"I am delighted to welcome Andrew Robinson to DSW. Tax advisory is a target
area of expansion for the Group, enabling enhanced cross referral,
particularly for Corporate Finance and Wealth Advisory where tax advisory is
highly relevant. Referrals are a key element behind of the success of our
network and help to drive the organic growth of the Group. Referrals in FY23
comprised 14.2% of Network Revenue and we expect this to grow as we focus on
strengthening the depth and breadth of our services."

 

Dave Waddington of DSW Tax Advisory said:

 

"STS has built a strong reputation for its work with high-net worth clients
and offshore trusts. The acquisition brings new expertise to DSW Tax Advisory
and enables us to expand the range of services we offer our clients."

 

Enquiries:

 

 DSW Capital

 James Dow, Chief Executive Officer               Tel: +44 (0) 1928 378 029

 Nicole Burstow, Chief Financial Officer          Tel: +44 (0) 1928 378 039

 Shore Capital (Nominated Adviser & Broker)       Tel: +44 (0)20 7408 4090

 James Thomas / Mark Percy / Rachel Goldstein

 Guy Wiehahn / Isobel Jones (Corporate Broking)

 Belvedere Communications

 Cat Valentine                                    Tel: +44 (0) 7715 769 078

 Keeley Clarke                                    Tel: +44 (0) 7967 816 525

                                                  dsw@belvederepr.com
                                                  (https://url.avanan.click/v2/___mailto:dswcapital@belvederepr.com___.YXAxZTpzaG9yZWNhcDphOm86Yjc0Nzc1ZDRhNmI2ZDQ3ODRiMTU2MDJlZmUzYWIyOWE6NjpiM2UzOjNlNDFhZjMzOTc3YTA5ZmIzMjJlN2ExNDJmOTg4MGVjYWZhNzZkYmI3ZGY2YTQxYzA1YWZlYWI2NjhhYmZjMTg6cDpU)

 

About DSW Capital

 

DSW Capital, owner of the Dow Schofield Watts brand, is a profitable,
mid-market, challenger professional services network with a cash generative
business model and scalable platform for growth. Originally established in
2002, by three KPMG alumni, DSW is one of the first platform models disrupting
the traditional model of accounting professional services firms. DSW operates
licensing arrangements with 24 licensee businesses with 105 fee earners,
across ten offices in England and two in Scotland. These trade primarily under
the Dow Schofield Watts brand. It also operates Pandea Global M&A, an
international corporate finance network covering 33 different countries.

 

DSW's vision is for the DSW Network to become the most sought-after
destination for ambitious, entrepreneurial professionals to start and develop
their own businesses. Through a licensing model, DSW gives professionals the
autonomy and flexibility to fulfil their potential. Being part of the DSW
Network brings support benefits in recruitment, funding and infrastructure.
DSW's challenger model attracts experienced, senior professionals,
predominantly with a "Big 4" accounting firm background, who want to launch
their own businesses and recognise the value of the Dow Schofield Watts brand
and the synergies which come from being part of the DSW Network.

 

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