CVR Global continues to go from strength to strength following its management buyout of Chantrey Vellacott’s business recovery division.
When Chantrey Vellacott announced its intention to merge with a larger accounting and advisory company, Kevin Murphy and his associates in the business recovery division took the decision to separate from the business and strike out as a new venture – CVR Global.
The management team knew it would need specialist support during the MBO process, and Park Capital was the obvious choice. Jason Metcalf, Managing Director of Park Capital, is a former partner of Chantrey Vellacott, so has worked with Kevin and the rest of the management team on numerous occasions over the years. Kevin explains, “We’ve always found Jason to be first rate – he was the natural person to turn to for our own fundraising.”
Park Capital set to work assisting the team with its business plan and financial forecast models, before presenting the proposals to Chantrey Vellacott’s management committee.
As with most management buyouts, securing the right finance package was crucial. Jason Metcalf’s 25+ years in corporate finance gives him a distinct advantage when it comes to approaching potential investors. He personally supported the CVR Global team with the investment presentation. Jason then turned to Park Capital’s extensive network of financial contacts, and selected the funders he felt would be the best fit for the MBO. Park Capital was able to negotiate an excellent funding deal, enabling CVR Global to complete the management buyout.
Since the management buyout, CVR Global has made enormous steps forward and established its place as an expert in restructuring insolvency and forensic business services. CVR Global now operates six offices across the UK, along with premises in Gibraltar, The British Virgin Islands and Jersey.
Park Capital continues to support CVR Global on corporate finance issues, and also offers corporate finance and fundraising services to the firm’s clients. In turn, CVR Global is able to offer its services to Park Capital’s clients if they encounter financial distress.
Kevin Murphy states, “When we’re the administrators of a job and need some corporate finance input we go to Jason. He’s our first choice for any corporate finance matters.”