PraxisIFM strengthens position in The Netherlands with acquisition of PES

PraxisIFM strengthens position in The Netherlands with acquisition of PES

17 / 11 / 2017

Further to the announcement by PraxisIFM Group Limited (“PraxisIFM”) on 10 October 2017 that it is acquiring Kompas International (“KOMPAS”) in the Netherlands, the board of directors of PraxisIFM is pleased to announce that KOMPAS has agreed to acquire 100% of the issued share capital of Private Equity Services (Amsterdam) B.V., a Netherlands registered company with the trade register of the Chamber of Commerce under number 34164651 and its various subsidiaries (“PES”), subject to normal completion conditions and regulatory approvals. The acquisition is in line with the Group’s plans to grow its corporate and private client services further, both in reach and people. 

Commercial director of KOMPAS Guido Wagenaar is pleased they are able to add PES to its team so soon after KOMPAS’ own acquisition by Channel Islands-based financial service provider PraxisIFM. “The acquisition of PES is a great step in strengthening our team in The Netherlands as a hub for PraxisIFM’s services on Europe’s mainland,” said Wagenaar. “PES has very knowledgeable, experienced people that we are very glad to get on board with us.” Simon Thornton, CEO of PraxisIFM, adds that PES is very welcome in the larger PraxisIFM group. “They have a strong team and combined with KOMPAS, it is a solid base that we can build on in Europe.”

PES provides alternative investment funds and international business clients with fiduciary services and specializes in corporate accounting activities. The firm has a staff of 20 and offices in The Netherlands and the Caribbean. All staff will be retained; the PES team in The Netherlands will merge with the KOMPAS team under the name of PraxisIFM Amsterdam.  Managing Director of PES, Jo de Haas, is looking forward to his team’s new step.  “Our team at PES is dedicated, and highly specialized,” said De Haas. “I think we can add greatly to the service offering of PraxisIFM in the Netherlands with our personal approach and our service experience. Being part of a larger organisation gives us many new opportunities.”

With the acquisition of PES, PraxisIFM’s fiduciary team in The Netherlands will grow to 30 staff. They also add 3 new staff in The Caribbean. The parties have agreed not to disclose the financial terms of the transaction, which is subject to regulatory approvals and other customary closing conditions. KOMPAS International is a high quality corporate service provider based in The Netherlands. KOMPAS was acquired by PraxisIFM, one of the largest independent and owner-managed financial services groups headquartered in the Channel Islands. PraxisIFM has 425 staff in multiple global jurisdictions.