Livingbridge invests in Stowe Family Law

A spokesperson for Livingbridge told unquote" the GP has taken a majority stake of more than £10m in Stowe, as part of an all-equity deal.

The transaction marks the second investment from the GP's sixth fund, which held a final close on £660m in September 2016, surpassing its £600m target.

Financial details of the transaction remain undisclosed, though the new vehicle looks to make equity investments of £2-40m in companies with enterprise values between £20-75m.

Under its new ownership model, Stowe Family Law will look to increase its number of locations by up to 200%, invest in its IT platform and undertake a recruitment drive.

Following the deal, founder Marilyn Stowe will remain involved in the business, though the transaction will also enable her "to explore new opportunities", according to a statement.

Company
Founded in 1982 and headquartered in Harrogate, North Yorkshire, Stowe Family Law is a legal practice with offices in 10 UK locations.

People
Livingbridge – Daniel Smith (partner); Mo Aneese (investment director); Simon Peet (associate director).
Stowe Family Law – Charles Hartwell (CEO); Marilyn Stowe (founder).

Advisers
Equity – Deloitte (corporate finance); Pinsent Masons (legal).
Company – KPMG (legal, corporate finance).

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