Stock-exchange listed financial adviser DSW Capital has entered the legal services market with the £6.1m acquisition of a specialist healthcare law firm, DR Solicitors Limited.
Guildford-based DR describes itself as the leading law firm for healthcare professionals. It was founded by former magic circle solicitor Daphne Robertson and chartered accountant Nils Christiansen. The firm employs eight staff working with a network of 18 consultant solicitors.
In the year to 31 March 2024, it reported pre-tax profits of £1.2m on revenues of £3.1m.
DSW Capital said the acquisition strengthens its market position through enhanced diversification. James Dow, chief executive, said: 'This is a game-changing acquisition and a significant milestone for us. By joining forces with DR Solicitors, we are diversifying our revenue streams and building a more resilient business for the future. It will enable us to further accelerate growth and establish a substantial platform for the delivery of legal services.'
Robertson and Christiansen will continue to lead DR Solicitor. Robertson, senior partner, said: 'We were one of the first legal firms to own a niche, one of the first to develop a consultant based operating model, one of the first to embrace alternative business structures, and now we are one of the first to integrate into a truly multi-disciplinary professional services group.
'The entrepreneurial culture of Dow Schofield Watts is a strong fit with our own, and this transaction will provide DR Solicitors with the scale and resources to continue building on our successful operating model for the benefit of all our clients. We are looking forward to this exciting next step as we accelerate the growth of both our firm and the wider group.'
DSW Capital said the £6.1m purchase price was made up of £4.3m in cash plus an issue of £1.8 million new ordinary shares. The shares are locked in against disposal for a period of two years.
Shares in DSW Capital rose 18.2% to 65p on the news.
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