Accountancy practice targets growth following merger
Scottish tech-enabled business critical services group, Anderson Anderson & Brown (AAB) has merged Leeds-based Sagars in its second deal this year.
The deal follows a major investment in AAB by August Equity, which looks to fast track the group’s future growth plans.
The addition of Sagars, which is led by seven partners and supported by a further 100 specialists covering tax, accounting, virtual finance, payroll and audit, creates a combined revenue for the business of £40m+ in the current financial year with a strategy to increase that to £70m group revenue by 2026.
Commenting on the news, managing partner at Sagars, Chris Jones, said: “We are delighted to be partnering with AAB in the next phase of our growth journey. Through the merger we can achieve our goal of increasing the depth and breadth of the services we offer, whilst retaining an ability to shape our own future.
“We were attracted by AAB because we both have a clear focus on delivering awesome client service, investing in and developing our people and expanding our portfolio of tech-enabled services for the SME and enterprise markets.
“We have no doubt that our complimentary skills and service lines will mean that together, we will be able to do more for our clients, whilst providing great opportunities for all our team in a fast-growing business services group that is highly differentiated in the market.”
Chief executive at AAB, Graeme Allan, added: “We have worked closely with Chris and the Sagars team over the last 10 years, and we are aligned with their way of thinking. Like us, they are driven by a passion for helping people (clients and team members alike) achieve their goals. We are hugely excited about Sagars opportunity to grow in Leeds and this merger enables us to support an even wider range of SME and enterprise clients across the UK.”
AAB was advised by a team from a Addleshaw Goddard led by corporate partner and head of Scotland, David Kirchin, and legal director, Laura Falls.