Cross-border merger creates £50m turnover professional services company
Professional services group Anderson Anderson & Brown (AAB), has today confirmed a merger with FPM, an all-Ireland independent accountancy and business advisory firm.
The deal for AAB, which established a base in Leeds in October last year after merging with Sagars, builds on its regional presence across the UK and creates a significant new hub across the island of Ireland in line with its ambitious growth plans.
FPM is an independent audit, accounting, tax and business advisory firm with revenue of about £9.5m and a team of over 120 people across five office locations in Belfast, Balbriggan (Dublin North), Newry, Dungannon and Mallusk.
The nine FPM shareholder directors are all remaining in their current roles and will continue to drive the growth of FPM as part of the AAB Group.
FPM’s complementary geographic presence will further enhance the wider AAB Group as a key player in the UK & Irish accountancy and business services markets, adding Ireland to its other regional hubs across Scotland and England.
AAB Group has grown rapidly in the last 12 months, following three M&A transactions and investment from August Equity in October 2021.
This merger with FPM means AAB becomes a group with more than £50m worth of revenue and over 550 staff in 10 offices across the UK and Ireland.
Graeme Allan, chief executive at AAB, said: “This merger is a very important milestone for the group. With FPM, we gain an impressive team with a great reputation and significant presence across the island of Ireland.
“There is a strong cultural fit between our firms, and at the heart of this is a passion for helping team members and clients achieve their goals, which makes us hugely excited about the opportunity this merger presents.”
Managing director at FPM, Feargal McCormack, added: “The synergies across our teams, service provision and sector specialisms, provide a fantastic platform for exciting future growth.
“In addition to this, we were attracted to AAB as the group has impressive global connections and experience working with high-growth SME businesses and large corporations internationally.
“This instantly gives us the capabilities to do even more for our clients, wherever they wish to do business across the world, whilst also providing our teams with enhanced opportunities to progress and develop as part of a larger group.”