A chunk of Troutman Sanders' power industry finance group has broken away to form a six-lawyer boutique, Mercer Thompson.

John T.W. Mercer, the former head of Troutman's project development and finance group, leads the new law firm with Richard E. "Chip" Thompson II, a younger partner from the group. Both had spent their careers at Troutman.

"Troutman is like an aircraft carrier. We've decided to climb in a PT boat and go buzzing around," said Mercer. Mercer Thompson, like Troutman, handles financing, M&A and development deals for both big electric and gas utilities and renewable power developers.

Mercer, 60, said the new firm is a return to the more intimate culture of Troutman when he joined 31 years ago. "I started practicing law at Troutman when it was a relatively small firm in one city. There was more collegiality and personal relationships. We missed that."