Former Ashcourt boss makes second takeover in new firm

European Wealth Management Group, the firm set up by ex-Ashcourt Rowan chief executive Rod Gentry, has bought Aventus Capital Management.

The acquisition of Aventus, a Cheltenham investment management firm, takes European Wealth's assets under management to over £130m.

Aventus was sold to European Wealth by commercial and private law firm Rickerbys.

Gentry set up European Wealth in November 2010 and completed its first acquisition, of financial planning group Matthews Smith, earlier this year.

Gentry said: "We have clear and ambitious plans for growing European Wealth and this acquisition is very much in line with these plans where we intend acquiring successful businesses and their teams to increase our presence as well as developing high levels of organic growth."