PraxisIFM Group and Oak Group have announced that negotiations are underway to combine their global businesses.
Heads of Terms have been entered into, which enable both companies to start formal negotiations. The combined group, whose name has yet to be announced, would have offices in 17 jurisdictions and a headcount of more than 700 people.
Upon completion of the deal, senior leaders from both businesses will form the new combined management team and be headquartered in Guernsey.
Established as Oak Group in 2019, the company has numerous constituent consolidated businesses Oak Trust Group, Consortia Partnership, Kreston IOM and International Administration Group. Oak, a specialist in private client, corporate and fund administration has 20 years’ experience and grown rapidly across six jurisdictions with 200 employees worldwide.
Originally founded in 1972 PraxisIFM is an independent, owner-managed, group of companies providing private client and corporate, fund and pension services. PraxisIFM listed on TISE in 2017 and since then has acquired a number of businesses, including Nerine Group and Jeffcote Donnison. It has more than 490 employees in 17 jurisdictions around the world.
Pictured top: Stuart Platt-Ransom, Chief Executive Officer of Oak, and Robert Fearis, Chief Executive Officer of PraxisIFM.
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