Convex has acted as exclusive advisor to the Partners on the sale of CVR Global LLP, a leading independent firm of insolvency practitioners, forensic accountants and experts in other related complementary disciplines, to Begbies Traynor Group plc, the market leading business recovery, financial advisory and property services consultancy group. The deal values CVR Global at a potential £20.8m.
CVR Global was founded by Richard Toone, Adrian Hyde, Kevin Murphy and Lee De’ath in 2015 and is a UK leading insolvency practice whose specialisms include restructuring, financial distress, fraud and asset recovery, business disputes, and pension covenant reviews. The Company operates from seven UK offices in London, Birmingham, Bristol, Southampton, Hove, Medway and Colchester, together with offshore offices in Gibraltar, Jersey, Cyprus and the British Virgin Islands. The team of 90 partners and staff will all join the group and enhance Begbies’ existing strong network of offices and teams across the UK.
The Business had Revenues of £9.5m and normalised pre-tax profits of £1.2m for the period ending March 2020.
“Convex do what it says on the tin; They guided us through the whole unfamiliar process, provided an excellent interphase with all the parties involved and achieved a fantastic result.”
Richard Toone, Partner
