Posted on April - 22 - 2010
Dow and Diligencia link-up will expand offer
Corporate finance boutique Dow Schofield Watts is joining forces with management due diligence consultancy Diligencia as it expands its range of services.
Diligencia’s seven members of staff will move into Dow Schofield Watts’ headquarters at Daresbury, Warrington.
Dow Schofield Watts already offers financial due diligence – running the rule over companies’ books prior to deals taking place.
Management due diligence involves establishing the ability, credentials and commitment of management teams in the run-up to deals.
Co-founder James Dow said: “Our aim is simple – to create the broadest and deepest due diligence service to support the corporate finance market.
“No other business is offering this depth and breadth of expertise to clients.
“We aim to offer an attractive alternative to the established big players.
“The advantages are clear – our integrated service will make the whole due diligence process easier and more effective, with potential savings in both time and cost.”
He said: “The market has bottomed and we are ready to ride the next wave of dealmaking. We are poised to take advantage of a weak and fragmented market and are ready to grow aggressively.”
The joint venture will be known as Diligencia LLP.
Bruce Scott, who bought Diligencia from Jefferson Smurfit Group in 1995, said: “There was an obvious synergy between our team in terms of offer and culture.
“Yes, we move in similar markets but there is very little overlap so it’s a perfect fit.”
Diligencia LLP will work with banks and private equity houses at the pre-investment stage and with companies.
As well as management and financial due diligence, the firms offer operational and commercial due diligence, analysing and assessing companies’ internal structures and efficiency and their growth potential.
Dow Schofield Watts was established in 2002 by Mr Dow, Jon Schofield and Mark Watts.
It specialises in mid-market deals ranging from £5m to £200m in value, and to the end of January had completed 63 transactions with a total value of over £1.7bn.
Diligencia works in sectors including banking, insurance and construction, for clients such as Lloyds TSB, Barclays and Royal Bank of Scotland, Aviva, BMW and Seddon Construction.
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