The purchase marks the fund and corporate service provider's fourth acquisition in the Middle East within the last 12 months.

Channel Islands-based PraxisIFM has completed the acquisition of administration service Ryland Gray in Dubai.

The purchase marks the firm’s fourth acquisition in the Middle East over the last year. The other acquisitions include: fiduciary and corporate governance consultancy Ampersand Management; fiduciary and accounting company Balmor Management; and Cavendish Corporate Investments.

Ryland Gray, which was established in 1995, offers financial administration and corporate consultancy services, specialising in financial solutions for corporate and institutional clients.

The firm will rebrand as PraxisIFM Consultancy FZE. It has an office in Dubai Silicon Oasis, which will continue to be run by Simon Fielder.

“PraxisIFM has a long-established client base in the Middle East and has been working to develop this market further,” said Simon Thornton, chief executive of PraxisIFM Group. “Ryland Gray brings additional expertise, particularly in the area of employee benefit solutions, and bolsters our presence in the region. We see this as an important market for the group, and we are delighted to welcome founder Simon Fielder and his nine-strong team to PraxisIFM.”

PraxisIFM provides professional services to corporates, individuals and families in areas such as fund, real estate, corporate and private client.