Guernsey-headquartered Ravenscroft has acquired precious metal business BullionRock.
Formerly known as GuernseyMint, BullionRock was set up in 2012 by Robin Newbould, who also helped establish Ravenscroft more than a decade ago.
In recent years it has diversified its 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.
BullionRock allows customers around the world to purchase and store gold coins and bars, silver coins and bars, platinum bars and palladium bars.
Mr Newbould said: "Our business has built its reputation on offering a safe asset in a safe haven. It is a very personal business which treats clients as individuals and is committed to transparency. We share those characteristics with Ravenscroft along with our excellent reputation in exceeding client expectations."
The acquisition follows an increasing demand from Ravenscroft clients for parts of their portfolio to be invested in precious metals. Given the continuing uncertainty in the global markets, some investors are comforted by the fact that they are invested in something which, if they want to, they can physically touch.
Ravenscroft said it wanted to ensure that, as a group, it could offer clients the investment opportunities they were asking for.
For more information about Guernsey's finance industry please visit www.guernseyfinance.com.
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