Chicago-based CPA firm DSWD received an investment from 119th Street Capital, a family office based in Indiana that invests in privately owned financial service firms.
DSWD was founded in 2009 by its three partners Joseph DeMarco, John Sciaccotta and Rick Wilkens. It offers accounting, assurance, consulting, peer review and tax services, and specializes in industries like broker-dealers and RIAs, construction contractors, investment companies, manufacturing, benefit plans, professional services, real estate and restaurants. The firm plans to use the capital to expand its talent base, pursue selective acquisitions and strengthen its non-attest offerings.
"Our partnership with 119th is a significant milestone for our firm, and one for which we are immensely proud," Sciaccotta said in a statement. "119th shares our belief that building strong relationships and maintaining a people-first culture drives long-term meaningful success. Together, we will continue to grow, not just for the benefit of our clients, but also for our current and future team members who will be instrumental in continuing DSWD's success far into the future."
As is common with these types of deals, DSWD will operate under an alternative practice structure, separating its attest and non-attest services.
"DSWD is exactly the type of firm we are excited to invest in — one that combines strong leadership, clear strategic vision, and a deep commitment to its people, clients, and culture," 119th Street Capital managing partner Anthony Contrucci said in a statement. "We are thrilled to be able to support their next chapter of growth and to partner with a team that is so aligned with our values and long-term perspective."
