Boyes Turner advises Chartsbridge on joint venture with Shoosmiths
A team of experts from law firm Boyes Turner have advised collections, recoveries and enforcement business Chartsbridge on its recent strategic joint venture acquisition.
The multi-disciplinary team from Boyes Turner, led by Sophie Payne, a senior associate in the corporate team, advised on the launch of Equivo, a new one-stop recoveries business, which will provide clients with a complete recoveries solution, the first of its kind in the market and regulated by both the SRA and the FCA.
This complex transaction saw Chartsbridge acquire law firm Shoosmiths’ recoveries services business, including early and late stage collections, pre-legal activity and recoveries litigation including non-standard consumer recoveries, defended actions and enforcement, in exchange for a majority shareholding in Chartsbridge which has been rebranded as Equivo. This consolidates all these services under the Equivo banner.
A team of 182 Shoosmiths’ staff transferred to Equivo as part of the deal to work for the joint venture between Chartsbridge and Shoosmiths.
The multi-disciplinary team from Boyes Turner also comprised Mark Blunden (Head of Business Services), Helen Dobson (Senior Associate, Commercial & Technology), Rachael Brenchley (Solicitor, Corporate), Calum Parfitt (Solicitor, Commercial & Technology), Rachel Duncan (Director, Commercial Property), Barry Stanton (Partner, Employment) and Catrina Flanagan (Solicitor, Employment).
John Ingram, founder of Chartsbridge and CEO of Equivo, said: “By entering into this venture with Shoosmiths, the new combined Equivo business is now able to offer a complete ‘one stop shop’ end-to-end and highly tech-enabled service to our clients, and this is something that no one else in the market can currently offer.
“There is no doubt that this business will bring increased industry expertise to our clients and enhanced opportunities to work on digital solutions providing both efficient and compliant approaches to engage with customers in a post-Covid/digital world with our specialist tech teams.”
Commenting on the team at Boyes Turner, John said: “The team at Boyes Turner were exemplary as ever in supporting our business through this complex legal transaction which required us to pull on the firm’s breadth of expertise from across their corporate, real estate, employment and commercial teams.”
Sophie Payne from Boyes Turner said: “This is an important step for Chartsbridge and was a complex transaction which enabled us to draw on the breadth and depth of skills and experience which we have at Boyes Turner.
“This is an interesting venture for both businesses and one which is unique in the current market. It’s always good to work with businesses doing something new and to help them overcome the legal hurdles in doing so.”