Chantrey Vellacott recovery team completes MBO to form new firm

PARTNERS in the business recovery division of Chantrey Vellacott have completed a management buy-out of the division following the parent firm’s merger with Moore Stephens, Accountancy Age can reveal.

The division did not take part part in the merger on 1 May 2015 between Chantrey Vellacott and Moore Stephens, which created a £162.7m firm. The new recovery specialist will be known as CVR Global LLP.

CVR Global, which will operate as an independent provider of restructuring, insolvency and pensions advisory services, employs a team of some 60 people, including seven partners, based at offices in London, Birmingham, Brighton, Colchester, Northampton and Southampton.

“It felt like the perfect time to start a new, progressive, entrepreneurial firm – building on the excellent reputation of the division and our track-record of delivering quality work” said Richard Toone, managing partner of CVR Global. ‘’It is an exciting time to be launching a new business.”

The London office is relocating to new premises in New Fetter Lane. Adrian Hyde, partner, commented: “We are very excited about the move to New Fetter Lane. It is the perfect place for us – right in the heart of the legal community, next to the High Court and at the edge of the City of London.”

“We fully intend to develop our range of services and to grow the firm through the recruitment of additional partners and the expansion of the team” said Kevin Murphy, partner. “As a first step, we will shortly be making an announcement about our new offshore offices”.