DSWD Receives Investment from 119th Street Capital to Expand Services

What's Happening?

Chicago-based CPA firm DSWD has secured an investment from 119th Street Capital, a family office located in Indiana. This investment aims to bolster DSWD's capabilities in accounting, assurance, consulting, peer review, and tax services. Founded in 2009, DSWD specializes in various industries including broker-dealers, construction contractors, and real estate. The firm plans to utilize the capital to expand its talent base, pursue selective acquisitions, and enhance its non-attest offerings. The partnership with 119th Street Capital marks a significant milestone for DSWD, emphasizing a shared commitment to strong relationships and a people-first culture.

Why It's Important?

The investment from 119th Street Capital is poised to significantly impact DSWD's growth trajectory. By expanding its talent base and service offerings, DSWD can enhance its competitive edge in the financial services sector. This move reflects a broader trend of family offices investing in privately-owned firms to drive strategic growth. The partnership underscores the importance of aligning values and long-term perspectives in business investments, potentially setting a precedent for similar deals in the industry. Stakeholders, including clients and employees, stand to benefit from the firm's strengthened capabilities and expanded services.

What's Next?

DSWD will operate under an alternative practice structure, separating its attest and non-attest services. This strategic move is expected to streamline operations and focus on growth areas. As the firm integrates the investment, it may explore further acquisitions to expand its market presence. The partnership with 119th Street Capital could lead to increased collaboration and innovation in service delivery, benefiting both current and future clients. The firm's leadership will likely continue to emphasize a people-first culture, fostering long-term success and stability.