29 October 2024

DSW CAPITAL PLC

("DSW Capital", "DSW" or the "Company")

Directorate Change

DSW, a profitable, mid-market, challenger professional services licence network and owner of the Dow Schofield Watts brand, announces that Jon Schofield, Non-Executive Director, will be retiring as a Director of the Company today. Jon co-founded Dow Schofield Watts LLP in 2002 and is a longstanding member of the Board. The Board extends its deepest gratitude for Jon's invaluable contributions since the Company's inception.

James Dow, Chief Executive Officer, said:

"I would like to thank Jon for joining me on this amazing adventure, which we started with Mark 22 years ago.  Jon's practical and commercial insight, and commitment has been key to the success of our company from a three-man start up to the present day. We wish him all the best for the future."

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About DSW Capital

DSW Capital, owner of the Dow Schofield Watts brand, is a profitable, mid-market, challenger professional services network with a cash generative business model and scalable platform for growth. Originally established in 2002, by three KPMG alumni, Dow Schofield Watts is one of the first platform models disrupting the traditional model of accounting professional services firms. DSW Capital operates licensing arrangements with 24 licensee businesses with over 100 fee earners, eleven offices across the UK. These trade primarily under the Dow Schofield Watts brand.

DSW Capital's vision is for Dow Schofield Watts to become the most sought-after destination for ambitious, entrepreneurial professionals to start and develop their own businesses. Through a licensing model, DSW Capital gives professionals the autonomy and flexibility to fulfil their potential. Being part of Dow Schofield Watts brings support benefits in recruitment, funding and infrastructure. DSW's challenger model attracts experienced, senior professionals, predominantly with a "Big 4" accounting firm background, who want to launch their own businesses and recognise the value of the Dow Schofield Watts brand and the synergies which come from being part of the DSW Network.

DSW Capital aims to scale its agile model through organic growth, geographical expansion, additional service lines and investing in "Break Outs" (existing teams in larger firms). The Directors are targeting high margin, complementary, niche service lines with a strong synergistic fit with the existing network.