Titan Wealth has entered into an agreement to purchase Ravenscroft Investments Limited, a wealth management service business operating in both Guernsey and Jersey.
The deal, which is subject to shareholder and regulatory approval, takes Titan Wealth’s total assets under management to £27.2bn.
As Titan Wealth looks to grow its international advice proposition, both organically and through further acquisitions, Ravenscroft, which will rebrand as Titan Wealth International next year, will provide key operating capabilities offshore.
The business also complements Titan Wealth’s own institutional dealing and wealth platform services in the UK.
Titan Wealth joint group CEO and head of M&A, Andrew Fearon, said: “The acquisition of Ravenscroft is a significant milestone in our strategy to deliver Titan Wealth’s unique client to custody offering to clients and advisers in multiple international jurisdictions.
“Closely following our acquisition of Dubai-based planning firm AHR, we have now made significant progress in expanding our differentiated and integrated proposition for international clients and advisers.
“With investment management in Ireland and the Channel Islands, offshore platform and custody solutions in the Channel Islands and the ability to provide financial advice in the UAE, Europe and other jurisdictions, we can service our clients wherever they live.
“Kaberry and I have worked closely with the Ravenscroft management team for a couple of years and have been impressed by the strength of the team and business, the values and client relationships that they have developed and continue to nurture.
“We look forward to seeing what we can achieve together now that they are part of the wider business.”
The corporate finance and property management businesses of the wider Ravenscroft group are not included in the transaction, which follows Titan’s acquisition of Ravenscroft’s UK investment management business last year.
Founder Jon Ravenscroft will remain with the corporate finance and property management businesses, which will retain the Ravenscroft name, and he will also be a significant shareholder in the Titan Wealth group.
Ravenscroft managing director of operations, Robin Newbould, said: “Having spent many months working with the Titan Wealth team, it is clear that they have ambitious plans for growth and that we are an important part of that expansion.
“We have had numerous approaches over the years, but none were right for our clients, our shareholders and our team.
“The time is now right for Ravenscroft’s wealth management business to become part of a bigger company and have a strategic role in its future expansion.
“Titan Wealth was impressed with the skills and expertise of our team and its commitment to clients and it is exciting for the Channel Islands that we will become the hub for Titan’s international growth.”
Ravenscroft provides a wide range of offerings to its clients, including discretionary investment management, advisory investment services, execution only trading, cash management, and dealing in, and storage of, physical precious metals.
