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06 May 2015

Charles Russell Speechlys advises Chantrey Vellacott

Charles Russell Speechlys has advised Chantrey Vellacott, the UK’s 21st largest accountancy firm, on its merger with Moore Stephens LLP, the UK’s 10th largest accountancy firm.

Moore Stephens’ accounting and consulting network comprises more than 1,300 partners and staff in 34 locations. Chantrey Vellacott has nine offices across the United Kingdom.

The merger completed on 1 May and places the merged firm (known and branded as Moore Stephens ) firmly in the top 10 largest accountancy firms in the UK. It has a combined turnover of £156m, 43 offices around the UK and Ireland, and over 1,700 staff and partners.

Mike Tovey, Chantrey Vellacott’s Managing Partner, said “Martin and the team at Charles Russell Speechlys gave us fantastic support through the negotiations: always available and helpful and able to maintain a good-humoured approach even when taking a firm position. They knew that both Moore Stephens and Chantrey Vellacott really wanted to make the merger happen and they never lost sight of the fact that both sides had already reached a good commercial understanding.

“Charles Russell Speechlys kept us focused on the big issues and risks and helped us avoid extended arguments on detail so ‘lawyer’ points were usually taken off-line and presented when the detail had been settled. In particular, Martin’s experience in dealing with substantial professional firm mergers was invaluable in helping us get through the process and over the line. ”

The Charles Russell Speechlys team was led by Corporate Partners Martin Wright and David Hicks, and Corporate Associate Charlie Ring. The Employment aspects were handled by Partner Emma Bartlett and the Corporate Tax elements of the deal were overseen by Managing Partner James Carter.

Martin Wright commented “This is a great deal for both firms. The practices of Moore Stephens and Chantrey Vellacott are very much complementary and the combination will make the merged firm a considerable force among UK mid-tier accountancy firms. It was, as always, a pleasure to work with the CV senior management team. The deal was characterised by a good collaborative approach by both the principals and their advisers. We wish the combined firm every success. ”

Moore Stephens were advised by Addleshaw Goddard, led by Partner Aster Crawshaw.