Well established business with c.£600m AUM and offices in Peterborough and Bishop’s Stortford
Titan Wealth Holdings [Titan Wealth] announces it has entered into a share purchase agreement to acquire [subject to shareholder and regulatory approval] Ravenscroft‘s UK-based investment management business. Guernsey-based Ravenscroft is a well-established wealth management business. Its two offices in the UK have a combined AUM of £600m and provide discretionary, advisory and execution-only services to nearly 2,300 clients.
The acquisition takes Titan Wealth’s AUM to £9.4bn and reinforces our current capabilities and strengthens our fully integrated client to custody solutions and services.
Ravenscroft operates from two offices in England. The majority of clients are based in Cambridgeshire and Hertfordshire and they will benefit from access to Titan Wealth’s wider group products and services.
The Peterborough office has grown organically through personal relationships and direct client recommendations. The investment proposition is largely bespoke, investing predominantly in funds and with some equities. The Bishop’s Stortford office investment proposition is primarily based on “model-style” portfolios. The teams from both offices will move across to Titan Wealth.
Andrew Fearon, Joint CEO & Head of M&A at Titan said: ‘Ravenscroft is a well-run business possessing a high-quality, loyal client base. The business will integrate with our network, enabling greater distribution of the investment and advisory offering that form part of our client to custody solutions and services.’
Jon Ravenscroft, Group CEO of Ravenscroft, said: ‘Titan has acquired a number of asset management firms in accordance with its growth strategy and we have spent a considerable amount of time ensuring they were the correct fit. Titan has the same ‘client first’ ethos and I’m confident that this development is the right move for both our UK teams and their clients. It will also allow Ravenscroft to focus on the offshore market – which we know extremely well – where the large majority of our clients, shareholders and staff remain. We would like to thank M&A specialist Dyer Baade & Company for their assistance in this transaction’