Ravenscroft completes acquisition

Wednesday 06 April 2022

Ravenscroft is expanding having completed its acquisition of MiltonOptimal.

Ravenscroft announced in November last year that it was planning to purchase MiltonOptimal and Verity Life. The former has been finalised following regulatory approval. The latter is expected to be complete in the coming months.

The value of the deal is undisclosed.

Ravenscroft's Group Managing Director, Mark Bousfield, said: "MitonOptimal’s team will bring with them considerable experience and provide us with further opportunities for growth in the Channel Islands, the UK and further afield.

"In recent weeks, they have spent time in the office getting to know our team, process and systems and there is a real excitement about the future."

Simon Sharrott, Group CEO and Joint Managing Director of MitonOptimal, said: "My colleagues and I are excited to be part of a dynamic organisation and joining a team that shares the same strong commitment to the highest levels of service and performance for clients across an enhanced range of offerings that, in addition to investment management, includes stockbroking, cash management and precious metals dealing."

Ravenscroft is an independently owned investment services group which has £8.2bn of assets under administration for both private clients and institutional clients from around the world.

The deal with MiltonOptimal further increases Ravenscroft’s assets under administration ahead of publication of its 2021 results later this month.

BWCI, KPMG and LTS Tax provided independent valuations and assessments in relation to the acquisition.

Pictured (top, left to right): Shaun McDade from MitonOptimal, Mark Bousfield from Ravenscroft and Simon Sharrott from MitonOptimal.