Channel Island financial services group PraxisIFM has acquired Nerine Trust.
This is the fourth acquisition in two years for PraxisIFM, which will take its headcount to 520 following completion of the deal.
Nerine Trust was established in 1997 and provides private client and corporate administration services to an international client base. The majority of its 92 staff are employed in Guernsey.
PraxisIFM Chief Executive Officer Simon Thornton said: "We have known the team at Nerine for many years and we’re delighted they’re joining us. Nerine will take our international office network to 15 and increase the depth of our client service offering."
The Nerine management team has committed to staying with the group for a minimum of three years.
PraxisIFM was advised by law firm Appleby, while Mourant acted on behalf of Nerine, led by Partner John Lewis and Associate Alana Nisbet. The acquisition is subject to regulatory approval.
Appleby Guernsey acted for PraxisIFM Group on the acquisition. The Appleby team was led by James Walsh (Senior Associate), assisted by James Dickinson (Paralegal) and supervised by Andrew Harding (Group Partner).
Pictured: PraxisIFM CEO Simon Thornton (left) and Nerine Group Executive Chairman Keith Corbin