Partners of Chantrey Vellacott’s business recovery division have launched a new firm: CVR Global. The establishment results from the management buyout of the division as a response to Chantrey Vellacott’s decision to merge with Moore Stephens.
Earlier this year, Chantrey Vellacott and Moore Stephens announced to merge. According to the two firms, combining their strengths would provide them with “a platform for continued, sustainable growth” as well as “a broader range of expertise, along with an increased depth of sector knowledge and experience.” The merger was finalised on 1 May 2015 and resulted in a £162.7 million firm, which will operate under the name of Moore Stephens.
As a response to the merger, partners of Chantrey Vellacott’s business recovery division decided to undertake a management buyout and form their own firm: CVR Global. “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,” explains Richard Toone, Managing Partner at CVR Global.
The new insolvency and restructuring advisory firm will provide its clients, both companies and individuals, restructuring and recovery, advisory, and investigations and asset tracing services. CVR Global has 60 practitioners, including 7 partners, working from its offices in London, Birmingham, Brighton, Colchester, Northampton and Southampton.
Looking forward, CVR Global already has big plans. Kevin Murphy, Partner at CVR Global explains: “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. As a first step, we will shortly be making an announcement about our new offshore offices.”