A Midlands insolvency and restructuring firm has undergone a management buy-out backed by DSW Capital plc, the company behind the Dow Schofield Watts professional services network.
Bridgewood employs a team of 14 at its offices in Nottingham’s Park Row and serves businesses in the Midlands and beyond. The deal gives control of the firm to founder Robin Tarling and insolvency practitioners Andrew Smith and Tom Grummitt, whilst also providing an exit for its original investors.
The firm is now a member of the Dow Schofield Watts network – the first in the Midlands – and will operate under the name of DSW Bridgewood.
Bridgewood was established in 2010 by Robin Tarling, who had previously worked for corporates in financial services and telecoms including Vodafone and Egg Bank, and with backing from external investors.
Robin Tarling is confident the transaction will secure Bridgewood’s succession plan and bring a new dimension to the business. He said: “The buy-out is an ideal scenario for all concerned. It enables Andrew and Tom, who are key members of the leadership team, to take a stake in the business and gives us the autonomy to pursue our growth plans going forward, while providing a return for our seed investors.
“Being part of the Dow Schofield Watts network will also give us access to a strong support team and bring opportunities to expand our services, including into other types of advisory work and commercial financial broking.
“It has been a smooth, timely and seamless process with DSW. They have been responsive, quick to understand our business model, and their emphasis on strong cultural synergies was critical in informing our decision to join the network.”
James Dow, CEO of DSW Capital, said: “Expanding into the Midlands has been a key focus for DSW and we are delighted to have attracted such a high quality team. The arrival of Bridgewood provides a platform for us to accelerate our growth in the region.
“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 high-quality professionals. We look forward to welcoming more Midlands teams on board in the future.”
DSW now has 107 professionals in ten offices in the North West, Leeds, Reading, London, Scotland as well as Nottingham following the addition of Bridgewood to the DSW Network.
