- DJH Mitten Clarke has a strong track record of delivering double-digit organic growth according to Tenzing
- The UK accounting market is growing at 5 percent year-on-year with the SME segment estimated to be worth £9 billion, according to Tenzing
- Tenzing will support DJH Mitten Clarke’s growth strategy organically and inorganically
Tenzing announced on Wednesday it has invested in DJH Mitten Clarke, a UK accounting firm that provides accounting, audit and payroll compliance services, as well as tax advisory services to SMEs in the UK. The business has a strong track record of delivering double-digit growth and increased regulation continues to drive demand for the company’s services with the UK accounting market growing at 5 percent year-on-year, with the SME segment estimated to be worth £9 billion ($10.3 billion; €10.4 billion) according to Tenzing.
“UK businesses have a real challenge on their hands right now due to increased regulation mandating ongoing compliance work, and DJH Mitten Clarke is well-positioned to capitalise on this opportunity due to its unique approach to client delivery,” said Mike Reynolds, investment team at Tenzing.
“The support from Tenzing will allow us to further invest in our team and accelerate the transformation of our business,” said Scott Heath, CEO of DJH Mitten Clarke.
Stoke-on-Trent based DJH Mitten Clarke is the seventh investment of Tenzing’s £400m Fund II, which started investing in 2021. Tenzing’s investment in DJH Mitten Clarke will be used to build out the company’s sales and marketing capabilities. Tenzing will also support the company’s inorganic growth strategy by providing a dedicated acquisitions director to complement the team in-house.
London-based private equity firm Tenzing invests in high-growth UK and Northern European SMEs valued between £10 million and £200 million. The deal follows on from Tenzing’s investment in Altum, a provider of administrative services to funds, corporates and family offices, covered by PE Hub Europe.