Stockbroking and investment management company Ravenscroft is to acquire Guernsey-based precious metals business BullionRock for an undisclosed sum.
The deal will see BullionRock founder Robin Newbould returning to Ravenscroft after a six-year break – he helped establish the business more than a decade ago.
He said: “We have no immediate plans for change, so it will be very much business as usual at BullionRock. We do, however, see real potential for our clients who will gain access to a full range of stockbroking and investment management services as a result of our business becoming part of the Ravenscroft Group.”
Robin Newbould set up the bullion business in 2012 and has diversified the product portfolio to include BullionRock Invest, which offers dealing in, and storage of, precious metals in a secure vault at an undisclosed location in Guernsey.
Ravenscroft group Managing Director Mark Bousfield said the addition of BullionRock to the group made sense in the current economy. “Investors are becoming increasingly knowledgeable and we have seen an increasing demand from them for parts of their portfolio to be invested in precious metals,” he said.