Cains, has advised Ravenscroft Holdings, the parent of the UK-based investment services company, Ravenscroft, as Isle of Man counsel in its recent acquisition of Isle of Man investment management services company W H Ireland (IOM) Limited, after having received the green light from the Isle of Man Financial Services Authority.
W H Ireland (IOM) provides a broad range of investment management services to a diverse and largely international client base, with assets under management of more than £300 million.
The six employees in the Isle of Man will join Ravenscroft, with the group now employing 120 people across its offices in the Isle of Man, Guernsey, Jersey and the UK.
The Cains team was led by corporate director Scott Leonard-Morgan with support from associates Kirsten Middleton and Adam Clark.
Going forward, the Isle of Man business, which will be known as Ravenscroft (IOM) Limited and trade as Ravenscroft, will continue to offer discretionary asset management services and it is expected to expand its offering.
This will be the first time that Ravenscroft has held an office in the Isle of Man and follows its recent expansion into the UK through the acquisition of the investment management portfolio from legal and financial services company Tees earlier this year.
Scott Leonard-Morgan, Director of Cains, said: “We are thrilled to have had the opportunity to assist Ravenscroft in its acquisition of W H Ireland (IOM) Limited and we extend the warmest welcome to Ravenscroft to the Island. We look forward to building a long-lasting relationship with the Ravenscroft team.”
