Ravenscroft has expanded its presence in the UK with the acquisition of the investment management portfolio from legal and financial services company Tees.
Ravenscroft has had a presence in the UK since 2015 when it acquired a 75% stake in A Vartan Limited in 2015 based in Peterborough, which was then rebranded to Vartan Ravenscroft. Now it has entered into a strategic relationship with Tees, which will see its investment management team and 900 clients join the group.
“This is an exciting development for our UK presence and the expertise and experience of the Tees team will complement our team in Peterborough. The success of Ravenscroft has been built on our long-lasting relationships with our clients and so it was essential that anyone we joined with had a similar ethos and dedication to clients. The team at Tees share a similar approach and a commitment to delivering successful investment solutions to our clients,” said Ravenscroft group managing director Mark Bousfield.
“Our new colleagues and clients will also benefit from the knowledge and support of our 100-strong team including our inhouse research, IT, new business, settlements and marketing departments.”
To facilitate the acquisition, Tees Investment Management Limited has been launched to separate the investment management team and clients from the wider Tees business. It is expected to rebrand as Vartan Ravenscroft before the end of the year.
“Like Vartan Ravenscroft and Ravenscroft, Tees prides itself on being part of the local community and serving clients from generation to generation. The synergies between the businesses were considerable and I know that those clients who have been using our investment management service will benefit significantly from being part of the Ravenscroft group,” said head of investment management Kieran Follis.