DSW Capital, the business advisory platform behind Dow Schofield Watts and DR Solicitors, has delivered resilient results for its half year ending 30th September 2025, reflecting the scalability of its pioneering model.
Across its professional services network, total revenue rose by 32% to £10.3 million, driven by the acquisition of DR Solicitors, and growth within existing DSW licensee businesses. Adjusted EBITDA also saw a significant increase, rising from £0.1 million in H1 FY25 to £0.7 million in H1 FY26.
These latest results included the first full six-months from DR Solicitors which, along with growth across its 23 licensee businesses has also helped to reduce the Group’s overall reliance on M&A activity, with a 32% weighting in H1 FY26, as compared with 67% in H1 FY25.
Since the acquisition of DR Solicitors, the Group’s legal division has also continued to expand with the appointment of a new corporate legal team specialising in Dental and Pharmacy work, headed up by Paul Edels.
Growth in headcount has been mirrored across the wider Group and a key to the continued success of DSW’s licensee model. The number of fee earners across the Group increased by 29% year on year to 144, with 49 partners now in place. DR Solicitors has also continued to grow, with the number of consultants increasing by 30% year on year, bringing the total number to 26.
This focus on talent saw Dow Schofield Watts recently launch its Pathway to Partner programme as it bolsters its market-leading position as a challenger model for senior professionals looking for more autonomy and flexibility in building their own practice. The bespoke, structured programme offers a career path for ambitious directors to move through to running their own business as a partner within two to three years. To support this, the Group also appointed Holly Payne as head of recruitment, reinforcing its commitment to empowering entrepreneurial talent and expanding its platform model.
Shru Morris, CEO at DSW Capital, commented: “We want to be a home for entrepreneurs, whether that’s the clients we work with or the people who work for us. These results are a strong indication that we’re delivering on exactly that, growing both our revenue and the size of our platform. With the integration of DR Solicitors already enhancing the breadth of our services and driving further growth, we’re certainly not slowing down as a true challenger in the professional services market.
As we move further into the second half of our financial year, it’s clear we’re still facing economic headwinds and geo-political uncertainty. However, I’m confident that, with the right people, we’re best placed to meet these head on and succeed. I’m particularly proud of the launch of our Pathway to Partner programme, a game changer for ambitious entrepreneurs looking to set up their own business in a supportive environment. It’s what makes our model so attractive, and will undoubtedly be a catalyst for our continued growth over the coming years”.
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DSW Capital, the business advisory platform behind Dow Schofield Watts and DR Solicitors, has delivered resilient results for its half year ending 30th September 2025, reflecting the scalability of its pioneering model.
