Dyer Baade & Company advises Ravenscroft on the sale of its UK investment management business to Titan Wealth

Dyer Baade advises Ravenscroft on its sale to Titan Wealth

(London, May 2023)  Dyer Baade & Company acted as exclusive financial adviser to Ravenscroft Holdings Limited on the sale of its UK investment management business, Ravenscroft Investments (UK) Limited, to Titan Wealth.

At the time of the transaction, Ravenscroft’s UK business operated from offices in Peterborough and Bishop’s Stortford, managing approximately £600 million of assets across discretionary, advisory and execution-only investment services.

The acquisition formed part of Titan Wealth’s strategy to build a leading integrated wealth and asset management business in the UK and increased the group’s assets under management to approximately £9.4 billion.

Titan Wealth was backed by US private equity firm Parthenon Capital, which had acquired a majority interest in the group earlier in 2023.

Strategic rationale

The transaction enabled Ravenscroft to realise value from its UK investment management operations while increasing its strategic focus on its core Channel Islands and offshore businesses.

For Titan Wealth, the acquisition added an established investment management business with a high-quality client base, additional investment capabilities and a presence in two important UK regional markets.

The transaction reflects the continued consolidation of the UK wealth and asset management sector and the growing role of private equity-backed platforms in acquiring high-quality specialist investment businesses.

Dyer Baade’s role

Dyer Baade & Company advised Ravenscroft throughout the transaction, supporting the group on the positioning of the UK business, buyer engagement, transaction strategy and negotiations through to agreement with Titan Wealth.

The mandate required an understanding of both the investment management sector and the strategic priorities of a diversified financial services group considering the divestment of part of its operations.

Jon Ravenscroft, Group CEO of Ravenscroft, commented: “Titan has acquired a number of asset management firms in accordance with its growth strategy and we spent considerable time ensuring they were the correct fit. Titan shares our ‘client first’ ethos, and I am confident this is the right move for both our UK teams and their clients. We would like to thank Dyer Baade & Company for their assistance in this transaction.”

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 wider distribution of the investment and advisory offering that forms part of our services.’

Jon Ravenscroft further said: “It was a pleasure to have Dyer Baade on our side during the sale of our UK business. They ran a very efficient process, always putting the client’s interests first. Highly recommended”