The company behind financial advisory brand Dow Schofield Watts has raised £5m after completing a float on the London Stock Exchange's AIM.
DSW Capital, which is headquartered in Cheshire, now has a market capitalisation of £21.4m, based on a share price of 100p.
The company currently has 19 licensee businesses with 82 fee earners in offices in Daresbury, Manchester, Leeds, London, Reading and Aberdeen.
For the year to the end of March 2021, DSW Capital generated an operating profit of £1.7m and operating cash flow of £800,000.
CEO and co-founder James Dow sold no shares in the IPO and will hold c.14.5% of the group when trading begins on AIM on December 16. Combined, the directors will hold 24.5%.
Mr Dow said: "We are delighted to announce our IPO and admission to AIM, which are important milestones for DSW Capital.
"The successful fundraise will support our strategy to capitalise on the substantial growth opportunities presented in the changing UK accounting market and our vision to become the most sought-after destination for ambitious, entrepreneurial professionals to start and develop their own businesses.
"The success of our model is demonstrated by the rapid rise of the DSW Network up the sector rankings.
"We believe our new quoted company status will help raise the profile of DSW further, enabling us to accelerate the growth of our Network.
"I would like to thank all the licensees, partners and employees across the DSW Network for their hard work and commitment and our new investors for their support, as we enter the next phase in this exciting journey."
Shore Capital is acting as nominated adviser, sole bookrunner and sole broker in relation to the admission and placing and will act as nominated adviser and sole broker to the company following admission.
