DCSL Software Ltd receives double-digit million pound investment to drive ambitious organic and acquisitive growth plans
09.12.20: Private equity fund, Queen’s Park Equity (QPE), has made a double-digit million pound investment in DCSL Software Ltd (DCSL), a multi-award-winning software development and digital transformation specialist firm serving the corporate, SME, not-for-profit, government and funded start up market to support its ambitious plans for organic and acquisitive growth in the UK and overseas.
Headquartered in Farnborough and with offices in London and Manchester, DCSL’s fully in-house, UK based team of Microsoft-approved developers and technology professionals design and build intelligent, cost-effective and intuitive web applications, cloud systems, desktop applications and mobile apps that help streamline processes for businesses as well as create new revenue streams for start-ups and established businesses alike.
DCSL is the second investment from Queen’s Park Equity Fund I, which has fundraised over £150m to date. QPE focusses on partnering with ambitious owner managers and enabling the acceleration of growth through hands on support and the provision of capital. QPE typically invests £10m to £20m in leading businesses generating £1-5m EBITDA operating across the Technology Services, Education and Health & Pharma services sectors.
DCSL has experienced 40+% compound growth over the last seven years to over £10m annual revenues under the leadership of Nick Thompson. Nick initially joined DCSL’s original parent company at the age of 17 in the ‘90s, becoming a founder and Director of DCSL Software Ltd in 2003 and subsequently leading the company’s MBO in 2013. Since then, he has grown the business from 12 people, to now employing over 120 members of staff.
Jose Rodriguez, Managing Partner and Kajen Mohanadas, Investment lead at Queen’s Park Equity, will join the Board of DCSL as partners to its ambitious management team, facilitating strategic discussion and supporting opportunities to accelerate growth.
Kajen Mohanadas of QPE comments: “DCSL Software has shown exceptional growth on the back of strong delivery of mission critical digital transformation projects to a wide array of high-quality customers. We have been impressed not only by their financial performance, but also the very positive customer feedback and recent awards the company has received. Demand for digital transformation is expected to continue to grow as companies increase their investment in IT, upgrade IT infrastructure, automate processes and transition to cloud technology. We’re delighted to be supporting Nick and the DCSL Software team at the forefront of this change.”
Nick Thompson, founder and CEO, DCSL Software Ltd comments: “I am hugely proud of the growth DCSL has achieved in recent years and the positive recognition we have received along the way. My management team and I are delighted to have found a partner in Queen’s Park Equity with similar values and ambitions to continue our growth trajectory in the UK and internationally. We welcome Jose and Kajen to our Board and look forward to the value they will bring through years of experience and insight.”
Advisors to the transaction were:
Corporate Finance – Lincoln International
Legal – Goodwin Procter LLP
Financial – Wilson Partners
Commercial – CIL Management Consultants
DCSL Software Ltd:
Legal – Harrison Clark Rickerbys
Accountants – Menzies LLP
About DCSL Software Ltd
DCSL Software designs and builds intelligent, cost-effective and intuitive web applications, cloud systems, desktop applications and mobile apps that help streamline processes for businesses as well as create new revenue streams for start-ups and established businesses alike. With offices in Farnborough (Hampshire) and London, DCSL is the UK’s leading bespoke software development company, with a fully in-house 120+ team of Microsoft-approved developers and technology professionals.
DCSL has built up considerable expertise in a variety of sectors: public and private, consumer and business focused and not-for-profit. The company has helped businesses ranging from start ups & ventures, small owner-managed companies through to large public organisations.