Channel Islands-based financial services group PraxisIFM has agreed to acquire Kompas International, a Dutch trust and corporate services provider, for an undisclosed sum.

Kompas will be rebranded as PraxisIFM Netherlands BV after completion of the acquisition, which is subject to regulatory nod. All 10 employees of the firm will join PraxisIFM as part of the deal.

PraxisIFM CEO Simon Thornton said: “Kompas stands out in its field for their high quality of services and exceptional management team. They have great experience in an area that offers high growth potential for us.”

Thornton called the Netherlands “a strategically advantageous jurisdiction in Europe”.

Kompas commercial director Guido Wagenaar said: “During our conversations I have felt the support of PraxisIFM’s management, a very involved group of people, which makes me feel confident that we have found the platform from which our services can grow.”