Ravenscroft acquires precious metals business

Guernsey-based stockbroking and investment management company Ravenscroft has acquired precious metals business Bullion Rock for an undisclosed sum.

Bullion Rock was set-up in 2012 by former Ravenscroft employee and founder Robin Newbould. It offers dealing and storage of precious metals in a secure vault at a secret location in Guernsey and more than 500 clients across retail and high-net-worth private clients, intermediaries and institutions.

According to the firm’s website, its live metal prices are linked to the underlying metal spot prices and it works closely with UK, Swiss, Dutch, German and South African mints and refiners to supply gold, silver, platinum and palladium bars and fine coins to its global customers.

Newbould, who helped establish Ravenscroft more than a decade ago, said the acquisition would not result in any immediate changes to Bullion Rock’s business.

“We do, however, see real potential for our clients who will gain access to a full range of stockbroking and investment management services as a result of our business becoming part of the Ravenscroft Group,” he added.

Ravenscroft managing director Mark Bousfield said the addition of Bullion Rock made sense in the current economy.

“Investors are becoming increasingly knowledgeable and we have seen an increasing demand from them for parts of their portfolio to be invested in precious metals,” he said.

“Given the continuing uncertainty in the global markets, investors are comforted by the fact that they are invested in something which, if they want to, they can physically touch. We want to ensure that as a group we can offer our clients the investment opportunities they are asking for and so the acquisition of Bullion Rock will further diversify our offering.”

The news comes after Ravenscroft began its UK push earlier this year and launched two funds for retail investors. The firm also announced Stephen Lansdown as chairman.

 

 

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