OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided DSW Capital, a mid-market, challenger professional services licence network and owner of the Dow Schofield Watts brand, with capital to support its acquisition of DR Solicitors, the specialist law firm working with medical professionals (including GPs and dentists).
Based in Daresbury, Cheshire and established by KPMG alumni, DSW is one of the platform models “disrupting” the traditional model of accounting professional services firms.
DSW operates licensing arrangements with 24 licensee businesses and 108 fee earners across 12 UK offices, “primarily trading under the Dow Schofield Watts brand.”
Established in 2003, DR Solicitors has a client base of 2000+ practices throughout the country and advises on key transactions each year.
The firm offers legal services to general practitioners, consultants, and other primary care providers across the United Kingdom.
Co-founded and led by Daphne Robertson, the medical partnership lawyer in Chambers UK, DR Solicitors has received recognition from industry participants.
After the acquisition, Daphne and her co-founder, Nils Christiansen, will remain at the helm of DR Solicitors, working with the management team at DSW Capital for collaboration.
James Dow, Chief Executive of DSW Capital, commented that this is a game-changing acquisition.
Dow noted that not only is it significantly earnings enhancing, but it also diversifies their “revenues, building resilience, and provides an opportunity to expand into new professional markets.”
Dow added that working with DR’s inspirational management team, they believe they can accelerate the “growth of the business using the strength of the Dow Schofield Watts brand, and resources and, over time, build a substantial platform of diversified, niche legal services.”
They are committed to supporting Daphne, Nils, and the DR team in “the holistic growth and development of the business.”
Stewart Haworth, Debt Finance Director at OakNorth, continued by noting that DSW Capital is a “profitable, fast growing, mid-market, challenger professional services licence network with a cash generative business model and scalable platform for growth.”
Haworth added that its challenger model represents a differentiated proposition in an “evolving market, winning it dozens of awards and industry-wide recognition.”
Haworth further explained that this is clearly aligned with DR Solicitors which has a commendable trophy cabinet of its own and “an equally impressive reputation.”
They are looking forward to once again have been chosen as the trusted funding partner to DSW and will be focused on “continuing to support the business in its future growth ambitions.”