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Sanne Group plc has entered into an agreement to acquire the PraxisIFM fund business.
The PraxisIFM Funds Business has consistently delivered double digit revenue growth in recent years and is a strategically important acquisition that will increase Sanne's presence in the locations mentioned above. The transaction is dependent on obtaining regulatory approval from the relevant bodies and is expected to complete in Q4 of 2021.
The acquisition of the PraxisIFM Funds Business is a perfect addition to our Group as it strengthens our fund offering in a number of our core European locations. It further demonstrates our continued strategic ambition to expand our client service offering. The PraxisIFM Funds Business has excellent fund professionals and clients and we look forward to welcoming them all to Sanne.”
PraxisIFM Funds Administration division is a great business that we have built since 2005 and in recommending this deal to our shareholders we plan to maximise the opportunities that are presented. This transaction enables our highly regarded fund business, that we have established over the years, to move to a global fund specialist, which can grow it further. Our clients and staff will directly benefit from Sanne’s professionalism, innovation and quality, continuing on from the excellent practice our team has built”
Sanne is technology enabled and operates from a global network that can bring significant client-value and a complementary suite of services that will add opportunities to the PraxisIFM Fund Business clients. Our thanks go to the Executive Team at PraxisIFM and to the company’s loyal shareholders for supporting this acquisition.”
