DSW Capital’s £5 Million AIM Initial Public Offering

In UK Hill Dickinson, advised on the matter.

Hill Dickinson advised Dow Schofield Watts with a team including Ian Gillis (Picture – Equity Capital Markets), Alasdair Mackinnon (Finance), Darren Hamer (Real Estate).

DSW Capital, owner of the Dow Schofield Watts brand, has raised £5 million in a successful IPO on the AIM market of the London Stock Exchange. The flotation gives the company a market capitalisation of £21.4 million, based on a share price of 100p. Admission to AIM is expected at 08:00 on 16 December 2021.  

DSW Capital operates a platform business network that provides an alternative to traditional accounting and professional services firms. It currently has 19 licensee businesses employing 82 fee earners from offices across the UK. Licensee businesses trade primarily under the Dow Schofield Watts brand. 

The funding will enable DSW Capital to scale through organic growth, geographical expansion, additional service lines and investment in ‘break outs’ – being existing teams in larger firms. 

Advising DSW Capital on the deal were Ian Gillis (Picture), partner, and Sean Lightfoot, legal director, of commercial law firm Hill Dickinson’s Manchester Corporate team. They were assisted by senior associate Harriet Adgie and associate James Robinson (Manchester Corporate); legal director Richard McKay (Liverpool Corporate), banking partner Alasdair Mackinnon and associate Jordan Clarke; property partner Darren Hamer and senior associate Jon Pearson-Basudev; Commercial team associate Elle Mackenzie; and senior associate Will Steed and Paul Mills senior legal assistant of the firm’s Employment team.

Involved fees earner: Harriet Adgie – Hill Dickinson; Jordan Clarke – Hill Dickinson; Ian Gillis – Hill Dickinson; Darren Hamer – Hill Dickinson; Sean Lightfoot – Hill Dickinson; Elle Mackenzie – Hill Dickinson; Alasdair Mackinnon – Hill Dickinson; Richard McKay – Hill Dickinson; Jon Pearson-Basudev – Hill Dickinson; James Robinson – Hill Dickinson; Will Steed – Hill Dickinson;

Law Firms: Hill Dickinson;

Clients: Dow Schofield Watts;

Author: Giulia Di Palma