Global investment company Investcorp has bought Stowe Family Law, the largest specialist family law firm in the UK, from the private equity group Livingbridge.
Based in Leeds and founded by Marilyn Stowe in 1982, Stowe Family Law has more than doubled in size in the past two years and now has almost 400 staff at 90 offices across Britain, working for 5,000 clients a year. Those clients' fees helped Stowe to generate an annual turnover of more than £37 million to the end of March.
Although the terms of the deal, including the price, have not been disclosed, Investcorp's investment will be used to help Stowe develop its growth strategy, called Stowe 3.0, which aims to expand the client base to 10,000 within five years. Investcorp will also use its considerable experience in building technology-enabled businesses to help Stowe expand its delivery and services.
“We are delighted to begin this next chapter in the Stowe story and look forward to working with the Investcorp team, who share our passion and strategic vision for the firm,” said Ken Fowlie, executive chairman at Stowe Family Law. “With their support and collaboration, we will continue to invest in our business and people to achieve our mission to become the first choice for family law.
“Given Investcorp’s experience, we will accelerate investment in technology, including looking to unlock the power of artificial intelligence to further enhance customer experience and service quality.”
'New partnership'
For its part, Investcorp, which is 20 per cent owned by Mubadala Investment Company, is “pleased to be starting this new partnership”.
“We were impressed by the company’s commitment to build a resilient and scalable business powered by technology, and look forward to working with Ken and the team as they continue on their vision of Stowe 3.0, a true leader in the legal field,” said Gilbert Kamieniecky, Investcorp's head of private equity, Europe.
Much of Stowe Family Law's growth has come from a buying spree over the past few years. In June, Stowe announced it was buying Hawkins Family Law, a boutique firm with offices across London and the south-east of England. Last year, it acquired Crisp and Company, a firm of solicitors with 17 offices across the UK, including one in Manchester. Stowe also snapped up Watson Thomas, a firm of family law solicitors in Hampshire and Surrey.
According to the UK's Office for National Statistics, divorce rates in Britain are falling, with 80,057 divorces granted in England and Wales in 2022. That represents a 29.5 per cent decrease compared with 2021 (113,505 divorces) and was the lowest number of divorces since 1971.
However, experts contend that the drop may be down to administrative issues in 2017 and 2018, and the delays to divorce proceedings brought on by the Covid pandemic in 2021 and 2022, rather than a significant improvement in the durability of British marriages.
According to research conducted by the lawyers Beecham Peacock, 42 per cent of UK marriages end in divorce, and the average length of a marriage is 12.5 years. The shortest marriage on record in the UK happened in 2004 and lasted just 90 minutes, according to Beecham Peacock.
If you go...
Etihad Airways flies from Abu Dhabi to Kuala Lumpur, from about Dh3,600. Air Asia currently flies from Kuala Lumpur to Terengganu, with Berjaya Hotels & Resorts planning to launch direct chartered flights to Redang Island in the near future. Rooms at The Taaras Beach and Spa Resort start from 680RM (Dh597).
'HIJRAH%3A%20IN%20THE%20FOOTSTEPS%20OF%20THE%20PROPHET'
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How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Voy!%20Voy!%20Voy!
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Read more about the coronavirus
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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Directed by: Todd Haynes
Starring: Mark Ruffalo, Anne Hathaway, William Jackson Harper
Rating: ****
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
The biog
Name: James Mullan
Nationality: Irish
Family: Wife, Pom; and daughters Kate, 18, and Ciara, 13, who attend Jumeirah English Speaking School (JESS)
Favourite book or author: “That’s a really difficult question. I’m a big fan of Donna Tartt, The Secret History. I’d recommend that, go and have a read of that.”
Dream: “It would be to continue to have fun and to work with really interesting people, which I have been very fortunate to do for a lot of my life. I just enjoy working with very smart, fun people.”
Best Academy: Ajax and Benfica
Best Agent: Jorge Mendes
Best Club : Liverpool
Best Coach: Jurgen Klopp (Liverpool)
Best Goalkeeper: Alisson Becker
Best Men’s Player: Cristiano Ronaldo
Best Partnership of the Year Award by SportBusiness: Manchester City and SAP
Best Referee: Stephanie Frappart
Best Revelation Player: Joao Felix (Atletico Madrid and Portugal)
Best Sporting Director: Andrea Berta (Atletico Madrid)
Best Women's Player: Lucy Bronze
Best Young Arab Player: Achraf Hakimi
Kooora – Best Arab Club: Al Hilal (Saudi Arabia)
Kooora – Best Arab Player: Abderrazak Hamdallah (Al-Nassr FC, Saudi Arabia)
Player Career Award: Miralem Pjanic and Ryan Giggs
if you go
The flights
Etihad and Emirates fly direct to Kolkata from Dh1,504 and Dh1,450 return including taxes, respectively. The flight takes four hours 30 minutes outbound and 5 hours 30 minute returning.
The trains
Numerous trains link Kolkata and Murshidabad but the daily early morning Hazarduari Express (3’ 52”) is the fastest and most convenient; this service also stops in Plassey. The return train departs Murshidabad late afternoon. Though just about feasible as a day trip, staying overnight is recommended.
The hotels
Mursidabad’s hotels are less than modest but Berhampore, 11km south, offers more accommodation and facilities (and the Hazarduari Express also pauses here). Try Hotel The Fame, with an array of rooms from doubles at Rs1,596/Dh90 to a ‘grand presidential suite’ at Rs7,854/Dh443.
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
