DSW Capital, owner of the Dow Schofield Watts brand, the professional services and accountancy network, has listed on AIM and raised £5m in a successful IPO
The flotation gives the company a market capitalisation of £21.4m, based on a share price of 100p.
The majority of the net proceeds of the placing will be used to fund the acquisition of licence fee income and drive the recruitment strategy with £800,000 being used to pay down the group’s outstanding bank debt.
Cheshire-based DSW Capital operates a platform business model that provides a flexible alternative to traditional accounting and professional services firms. It currently has 19 licensee businesses with 82 fee earners in offices in Daresbury, Manchester, Leeds, London, Reading and Aberdeen. Licensee businesses trade primarily under the Dow Schofield Watts brand.
