• PL
Choose your location?
  • Global Global
  • Australian flag Australia
  • French flag France
  • German flag Germany
  • Irish flag Ireland
  • Italian flag Italy
  • Polish flag Poland
  • Qatar flag Qatar
  • Spanish flag Spain
  • UAE flag UAE
  • UK flag UK

DWF advises Sovereign Capital Partners on investment into leading accountancy firm

16 May 2023

DWF, the global provider of integrated legal and business services, has advised Sovereign Capital Partners, the UK private equity Buy & Build specialist, on their acquisition of a majority stake in LB Group.

LB Group is based in Colchester, with offices in London, Ipswich and Chelmsford. The business provides accountancy, taxation, outsourced CFO and business advisory and compliance services to start-ups, SMEs, corporates and private individuals. 

DWF's corporate team advised Sovereign on their investment, led by corporate partner, Alasdair Outhwaite and supported by senior associate, Ciara Healy.

Commenting on the deal, Alasdair Outhwaite said: "We are pleased to support Sovereign on this investment and wish the combined team every success with the future plans for LB Group."

Alex Hay, Partner at Sovereign, said: “We are delighted to be working with LB Group. It is a well-managed business with a strong reputation for providing high-quality accountancy and business advice services. We believe that LB is very well-positioned to consolidate the fragmented accountancy sector, initially in the East and South East of England. With our investment and support we look forward to expanding its geographic presence, client base and technology offering.”

Paul Mustoe, Director, LB Group, said: “We are excited to be partnering with Sovereign. This investment will enable us to accelerate our growth plans, expand our services and deliver even greater value to our clients. Sovereign's track record of working with high-growth, tech-enabled businesses and its expertise in the financial services sector make it the ideal partner for us.”

Chris Annis, Director, LB Group, said: “We are delighted to have secured this investment from Sovereign. We share their vision for the future of the accountancy and business advice sector, and we believe this partnership will help us cement our position as the market leader in the East and South East of England.”

Further Reading