Commercial law firm Hill Dickinson has acted on behalf of DSW Capital plc, the Daresbury-based mid-market, challenger professional services licence network, in connection with the funding to support the management buyout of corporate recovery business Bridgewood Financial Solutions Limited.
The news represents its expansion into the Midlands area and coincides with the release of DSW’s financial results for 2022/23.
Nottingham-based Bridgewood Financial Solutions employs 14 professionals, with the buyout giving control to founder Robin Tarling and insolvency practitioners Andrew Smith and Tom Grummitt, while the original investors exit the business.
Hill Dickinson legal directors Richard McKay and Deepak Purushothaman advised DSW on the corporate and banking aspects of the deal respectively.
Richard commented: “It’s been rewarding to have supported DSW on the buyout of the now DSW Bridgewood, presenting a real opportunity for growth for both parties.
“Entering into the Midlands market demonstrates DSW’s ambitions to build its presence, with the investment mutually benefitting Bridgewood through support from the network and prospects to build on its service offering.”
Chief executive of DSW Capital James Dow said:
“The post-year end addition of Bridgewood to the DSW Network demonstrates our ambitions to re-balance the portfolio and expand the geographical presence of the group. We believe the increasing scrutiny and regulation facing some of our larger competitors, in combination with the current market conditions, will enable us to attract more quality fee earners to DSW, supporting our future growth and expansion.”