International legal practice Osborne Clarke has advised European mid-market tech investor Tenzing on its strategic investment into CEO, Scott Heath and the management team of DJH Mitten Clarke, a Top 50 UK accounting firm.
Headquartered in Stoke-on-Trent, DJH Mitten Clarke is a Top 50 UK accounting firm which provides accounting, audit and payroll compliance services, as well as tax advisory, to SMEs across the Midlands and North-West. Tenzing's support will help the firm to further invest in its team and accelerate its business transformation.
Increased regulation continues to drive demand in the UK accounting market, which is large and growing at 5% YoY, with the SME segment estimated to be worth £9 billion. DJH Mitten Clarke is the seventh investment with Tenzing’s £400m Fund II, which started investing in 2021, and is one of fourteen high-growth businesses within the Tenzing portfolio.
The Osborne Clarke team that advised long-standing client Tenzing included private equity partner Tim Hewens who was supported by senior associate John Jarvis, and associates Alex Littlefield, Lottie Brewster and Matt Mayes. David Nisbet, Rob Thomas and Jonny Musty provided tax advice.
In addition to Osborne Clarke, Tenzing was also advised on the investment by Alantra and PwC. Management was advised by Clearwater and Knights plc.
Osborne Clarke’s private equity team is considered a go-to practice for many companies in the technology and financial sectors, working with clients ranging from global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.