Zedra, a provider of independent trust, fiduciary, corporate and fund services, has agreed to acquire the Netherlands-based independent corporate services provider Allied Corporate Services for an undisclosed sum.
Allied will be merged into Zedra’s international network as part of the deal. Zedra also has plans to double the size of the Dutch business over the next two to three years.
The deal is subject to regulatory approval from Dutch Central Bank.
The existing management of Allied, including Ramon Zuketto and Peter Luc Oei, will remain on board following the acquisition.
Zedra CEO Niels Nielsen said: "This acquisition is an important step in executing Zedra’s strategy and fits in perfectly with our aim to develop our business in carefully selected jurisdictions."
The latest acquisition forms part of the growth plan of Zedra, which recently snapped up Azure Trust Jersey and also launched an office in Hong Kong. The deal expands Zedra’s global reach which also operates in Jersey, Guernsey, the Isle of Man, the Cayman Islands, New Zealand, Hong Kong, Singapore, the UK and Switzerland.
Nielsen further said: "The combination of being a member of the European Union and having concluded tax treaties with a large number of countries, makes the Netherlands a particularly attractive base for domiciling international business operations."
"Allied has a strong and solid track record in the market, with a well-earned reputation for seamless delivery and client service. We are confident that Allied’s team will add considerable value to our operations both here in the Netherlands and across Zedra’s global network, and will reinforce our capabilities in the corporate trust sector, in particular."