PraxisIFM has acquired Kompas International, a trust and corporate services business based in the Netherlands.
This marks the first acquisition by PraxisIFM since it listed on The International Stock Exchange in April – though the transaction is subject to regulatory approvals and other closing conditions.
Kompas, which has a team of 10 staff, will be known as PraxisIFM Netherlands following the deal. All staff will be retained and there will be no office changes.
PraxisIFM has also announced its latest financial results, which show that group revenue has jumped by 26 per cent to £35.1 million.
This figure includes a £4.5 million uplift in organic revenues during 2017, representing double-digit growth and five-year and 12-year growth rates of 17 per cent and 13 per cent respectively.
The company’s reported EBITDA (earnings before interest, tax, depreciation and amortization) has grown by 29 per cent to £8.3 million and the board has declared a dividend of 1p per share.