DWF posts healthy revenue growth in first full year of PE ownership

DWF has reported 8% revenue growth to £466 million for FY25, in its first full set of results since being taken private by private equity house Inflexion.

The figure marks a slowdown from the 14% rise posted last year but marks a solid first full year since the £342 million take-private completed in October 2023, with growth broadly in line with the single-digit gains seen across most of the market.

Leadership change

It was the firm’s last year under the leadership of Sir Nigel Knowles, the former DLA Piper chief who stepped down as CEO in June after five years in charge. His successor Matthew Doughty highlighted that revenue had grown by around 60% and profitability had trebled during Knowles’ tenure, leaving DWF a "stronger, more ambitious business".

Moving into the current financial year, the firm has continued to make key lateral plays - hiring from Kennedys and DAC Beachcroft in London over the summer. It has also pushed further into legal tech, rolling out AI platform Legora across its 500-strong legal operations arm in June.

But the year has also seen some cuts. In April, DWF launched an operations shake-up that placed more than 100 business services roles at risk as part of a redundancy consultation.

What they said

CEO Doughty said: "This is another strong performance for our business, demonstrating the value of our integrated legal and business services offering and the trust our clients place in us. These results are a credit to our colleagues around the world, whose dedication ensures we continue to deliver exceptional outcomes for our clients.

"We are entering the new financial year with confidence, backed by strong first quarter growth. This confidence is underpinned by continued investment in technology, global expansion and our responsible business agenda. We remain focused on sustainable growth, deepening our client relationships, and delivering the highest quality service across all of our markets."