Ravenscroft has completed its acquisition of MitonOptimal Portfolio Management (CI) Limited.
The investment services group announced in November that, subject to regulatory approval, it planned to purchase the Channel Islands’ operation of MitonOptimal Group.
The purchase of MitonOptimal Portfolio Management (CI) Limited, which is for an undisclosed sum, has now completed with the acquisition of Verity Life Limited expected in the coming months.
“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,” said group Managing Director of Ravenscroft Mark Bousfield.
The deal also increases Ravenscroft’s assets under administration with 2021 results due later this month.
“My colleagues and I are excited to be part of 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,” said Simon Sharrott, group CEO and joint managing director of MitonOptimal Portfolio Management (CI) Limited.
BWCI, KPMG and LTS Tax provided independent valuations and assessments in relation to the acquisition.
The main picture shows: Shaun McDade, Mark Bousfield and Simon Sharrott.
