Partners in the business recovery arm of Chantrey Vellacott have completed a management buy-out of the division.
The new firm, CVR Global LLP, will operate as an independent provider of restructuring, insolvency and pensions advisory services.
Chantrey Vellacott’s business recovery division did not form part of the merger on May 1 2015 between Chantrey Vellacott and Moore Stephens.
The firm employs a team of around 60 people, including seven partners, based at offices in London, Birmingham, Brighton, Colchester, Northampton and Southampton.
Richard Toone, managing partner of CVR Global, said: “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. It is an exciting time to be launching a new business.”
The firm is already taking steps to expand following completion of the buy-out and is relocating its London office to new premises in New Fetter Lane.
Toone added: “New Fetter Lane 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.
“As a first step, we will shortly be making an announcement about our new offshore offices.”
The partners at CVR Global have experience across various of sectors and assignments, including appointments at Sustainable AgroEnergy, Magical Journeys Ltd, Marrache & Co, along with a number of credit unions.
By Marcel LeGouais