Family law firm targets further expansion

A personal equity-backed specialist household legislation agency with workplaces throughout the UK has reported progress in its newest monetary outcomes, boosted by a variety of new workplace openings. Additional progress is being focused following an acquisition in 2022.

Stowe Household Regulation was based in 1982 and employs greater than 120 specialist household legal professionals throughout 59 workplaces. The Leeds-headquartered agency secured backing from Livingbridge in 2017.

Lately filed accounts for Stowe Household Regulation Holdings present turnover of £17.5m was recorded within the yr ending 31 March 2022, up from £14.1m in 2020/21.

Pre-tax losses diminished to £4.74m from £5.01m the yr earlier than.

Ken Fowlie, chairman at Stowe Household Regulation, mentioned the outcomes represented a continuation of Stowe Household Regulation’s latest monitor file of sturdy natural progress. 

“Over latest years, the agency has grown turnover by greater than 25 per cent YoY. That progress has been delivered by gaining share in current markets and by extending the agency’s attain to new cities and cities.  Since 2020, the agency has opened in almost 40 new places throughout England and Wales.

“With the assist of our majority proprietor Livingbridge Personal Fairness and our lenders Virgin Cash, the agency has made important investments in folks, expertise, and digital advertising, every of which helps the agency’s progress and efficiency.”

Throughout 2021/22, the agency opened 16 new workplaces. It has continued to develop within the present monetary yr, opening its 59^th workplace in North Shields in December.

Its growth was additionally supported by investments in IT, case administration, advertising and shopper care infrastructure.

In April 2022, Stowe Household Regulation completed its first acquisition, with a deal for London-based household legislation agency Chapman Pieri.

Ken Fowlie added: “In 2022, the agency accomplished its first acquisition, becoming a member of forces with the boutique London household legislation agency, Chapman Pieri.  

“Following the profitable integration of Chapman Pieri, the agency is working with its key stakeholders and being suggested by Springboard Company Finance to establish extra acquisition alternatives in 2023 with aligned specialist household legislation corporations.

“Apart from the continued progress and strengthening of economic efficiency, the agency has invested considerably in its colleague proposition, a mark of which was receiving two stars in 2022 within the UK Greatest Firms awards and being recognised as considered one of legislation’s high ten greatest corporations to work for.”