Oak Group and PraxisIFM, two administrators based in Guernsey, plan to merge. Heads of Terms, which enable both companies to start formal negotiations, have been agreed and signed. Established in 2018 through the consolidation of four businesses, Oak operates across six jurisdictions with approximately 200 employees worldwide. PIFM listed on TISE in 2017 and has subsequently acquired a number of businesses. It has over 490 employees across 17 jurisdictions. Senior leaders from both businesses will form the new management team. The proposed deal is subject to due diligence, regulatory and shareholder approvals.
