Leading technology boutique V-lex has relaunched in London and Sheffield despite losing three directors after a deal to merge with Nabarro Nathanson fell through.
V-lex, a limited company regulated by the Law Society, was set to merge with Nabarros until it emerged that the larger firm was going to offer only two of V-lex’s five co-founders partnership.
This resulted in Deryck Houghton joining Freethcartwright as a partner, Tim Toomey became a partner at Ward Hadaway and Rosemary Downs took partnership at Keeble Hawson.
Majority shareholder John Yates and the firm’s other co-founder Helen Simpson shunned Nabarros’ advances and restructured. Yates has relocated to London and launched a new office with an assistant and a trainee. Simpson is set to close the firm’s original Worksop base and open an office in Sheffield.
“The London move is about putting us closer to new business,” said Yates. “We’re keen to keep a Northern office because when you have the work it’s highly profitable.”
V-lex enjoyed three years acting for international clients such as IT services company CSC on a string of deals, before revenues went flat in year four. The firm was forced to rethink its strategy and a move closer to the IT hotbed in London and the South East became inevitable.
Nabarros declined to comment.