Titan Wealth has signed a deal to acquire £7.9bn AUM Channel Islands wealth manager Ravenscroft Investments Limited.

The acquisition, for an undisclosed sum, is subject to shareholder and regulatory approval.

As part of the deal Ravenscroft Investments Limited will rebrand as Titan Wealth International next year.

Titan say the enlarged business will add to its own institutional dealing and wealth platform services in the UK.

The corporate finance and property management businesses of the Ravenscroft group are not included in the transaction, which follows Titan’s acquisition of Ravenscroft’s UK investment management business last year.

Founder Jon Ravenscroft will stay with the corporate finance and property management businesses, which will retain the Ravenscroft name, and he will also be a significant shareholder in the Titan Wealth group.

The acquisition is subject to shareholder approval and regulatory approval by the Guernsey Financial Services Commission and the Jersey Financial Services Commission.

Ravenscroft operates in Guernsey and Jersey and Titan’s registered office is in Jersey although it is mainly London based.

Titan Wealth is a growing financial business offering custody, platform, discretionary fund management and Financial Planning. It says it is targeting £100bn in assets across Financial Planning, investment management and custody over the next three to five years.  The acquisition pushes Titan Wealth’s total current AUM / AUA to £27.2bn.

Titan is currently embroiled in a separate spat with former partner business, the Financial Planning firm Tavistock, over historic Titan fund performance.

Titan Wealth is backed by Parthenon Capital Partners and Ares Management while Ravenscroft is an independently-owned investment services group which has £7.9bn of assets under administration for private clients and institutional clients.

Ravenscroft provides execution only trading, advisory investment services, discretionary investment management, market making, corporate finance services, cash management and the dealing in and storage of gold, silver, platinum and palladium.

Andrew Fearon, joint group CEO and head of M&A at Titan Wealth, said: “The acquisition of Ravenscroft Investments Limited in the Channel Islands is a significant milestone in our strategy to deliver Titan Wealth’s unique client to custody offering to clients and advisers in multiple international jurisdictions.

“Closely following our acquisition of Dubai-based planning firm AHR, we have now made significant progress in expanding our differentiated and integrated proposition for international clients and advisers. With investment management and investment funds in both Ireland and the Channel Islands, offshore platform and custody solutions in the Channel Islands and the ability to provide financial advice in both the UAE and Europe and other jurisdictions, we can service our clients wherever they may choose to live."

Ravenscroft employs around 100 staff to manage private and institutional clients and claims to be one of the largest wealth managers in the Channel Islands.