DSG Chartered Accountants, a major independent advisory firm in Liverpool, has completed a management buyout, choosing independent ownership over acquisition by a private equity-backed consolidator.
Led by tax partner Mark Kearsley and corporate partner Laura Leslie, the management buyout (MBO) reflects DSG’s commitment to its core client base of owner-managed businesses. These clients value working with a firm that shares their independent ethos.
Existing partners Andrew Moss and Jean Ellis, who retain a stake in the business, will continue to play active roles and collaborate closely with the new leadership team.
DSG has seen steady growth in recent years, with its headcount now reaching 110. The firm reported a fee income of £7.6 million for the year ending April 2024, an increase of 12% from the previous year. This growth is driven by a rising demand for DSG’s services, which include tax advisory, audit and accounts, corporate finance, and payroll services.
The new leadership team aims to unlock further growth by strengthening the management structure, investing in cutting-edge technology, and nurturing the next generation of talent. “Remaining independent is about more than control; it’s about building a business that truly reflects the values and aspirations of our clients. We have ambitious plans for DSG and this is the first step on that journey,” stated Mark Kearsley.
Andrew Moss commented, “This MBO marks a significant milestone in DSG’s history, and we are proud to remain the largest independent firm in the Liverpool City Region.” Meanwhile, Jean Ellis expressed, “We are committed to continuing our legacy of delivering outstanding service to our clients while fostering a dynamic environment for our talented team.”
Laura Leslie added, “In an industry where many firms are merging or seeking external investment, DSG’s decision to remain independent speaks volumes about our confidence in the future. This approach allows us to stay true to our clients and continue our growth on our own terms.
HSBC UK, Liverpool Team supported the funding, Matt Murphy of Watts Commercial Finance provided debt advisory, Glenville Walker offered legal advice to the buyside, and Lupton Fawcett advised the sell side.
As DSG embarks on this new chapter, the firm remains dedicated to serving as a trusted advisor to its clients, delivering tailored solutions that support their success and growth.