Titan Wealth has agreed to acquire wealth management services business Ravenscroft Investments, taking Titan Wealth’s total assets to $27.2bn.
Ravenscroft, which operates in Jersey and Guernsey, offers fund management, advisory services, and discretionary investment management among other services. It will rebrand next year to Titan Wealth International, and focus on providing “key operating capabilities offshore”.
The acquisition follows Titan Wealth’s purchase of Ravenscroft’s UK investment management business last year. Ravenscroft’s corporate finance and property management business will remain in the Ravenscroft Group under founder Jon Ravenscroft.
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Andrew Fearon, joint group CEO and head of M&A at Titan Wealth, said: “The acquisition of Ravenscroft Investments Limited in the Channel Islands 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 and investment funds in both Ireland and the Channel Islands, offshore platform and custody solutions in the Channel Islands and the ability to provide financial advice in both the UAE and Europe and other jurisdictions, we can service our clients wherever they may choose to live.
“James 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.”
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Ravenscroft, who founded his business in 2005, thanked shareholders and clients for their commitment to the company, and called it “unrecognisable” from where it began near two decades before.
“It was clear that future growth and expansion, to realise the true potential of both the offering and our staff, required a change. It needed to be with the right people who had a client first ethos,” Ravenscroft said.
“With the Titan Wealth name and network, Mark Bousfield and Robin Newbould, together with the wider team, are the right people to take the business forward, allowing me to focus on the corporate finance and property management part of Ravenscroft. I will continue to be a significant shareholder in Titan Wealth and look forward to watching and celebrating their growth and international expansion.”
