Liverpool accountancy firm DSG is acquired by partners Mark Kearsley and Laura Leslie in a management buyout. Tony McDonough reports
One of Liverpool’s best-known accountancy firms has been acquired by two of its partners in a management buyout (MBO).
Tax partner Mark Kearsley and corporate partner Laura Leslie have led the MBO, the value of which has not been disclosed. For the year ending April 2024 the firm says it saw a 12% increase in fee income to £7.6m.
Last published accounts on Companies House, which cover the previous year to April 2023, showed the business had net assets of £879,000.
Following the MBO existing partners Andrew Moss and Jean Ellis, who retain a stake in the business, will continue to play active roles. DSG says the deal means the firm retains its autonomy while others see acquisitions to private equity investment.
DSG employs 110 people across its headquarters in Castle Street in Liverpool and a second base in North Wales. Key services include tax advisory, audit and accounts, corporate finance, and payroll. It was previosuly called Duncan Sheard Glass.
Mark Kearsley said the new leadership team is focused on unlocking further growth by strengthening the management structure, investing in technology, and “nurturing the next generation of talent”.
He added: “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.”
Laura Leslie said: “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.”
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HSBC in Liverpool supported on the funding, Matt Murphy of Watts Commercial Finance provided debt advisory, Glenville Walker provided legal advice to the buyers and Lupton Fawcett advised the sellers.
Chris Heron, relationship manager at HSBC UK, added: “It’s fantastic to support DSG with this MBO. This decision cements the future of a thriving business that is highly valued by its customers and we look forward to what the future brings as part of this exciting new chapter.”