Anderson Anderson & Brown (AAB), the tech enabled business critical services group, has announced that Gill Pryde and Kevin Meaney will retire as Partners from the business at the end of March 2022.

Gill has played a leading role in the growth and diversification of the business throughout her 26 years with AAB. Gill joined a team of 33 in 1996, and was a driving force in building out AAB’s team of tax specialists as the business grew to support the diverse needs of its expanding client base. Leading the team, Gill ensured we could anticipate and meet client requirements as they grew their own businesses across both sectors and geographies. Gill’s commitment to clients and passion for “Awesome Service” have helped establish the benchmark for service delivery across the entire AAB team.

Kevin spearheaded the launch of our Edinburgh office in 2017, contributing hugely to its early success and growth. Since the office opened, Kevin has worked alongside the Edinburgh leadership team to grow the headcount to over 50, with teams operating across all AAB services. Since merging with Glasgow-based firm Hardie Caldwell, AAB’s income across the Central Belt now accounts for over £9M of group revenues and continues to grow quickly.

Graeme Allan, AAB Chief Executive commented “Gill and Kevin have been fantastic business partners who have contributed hugely to the continued success of AAB. Gill’s dedication over nearly three decades is in no small way what’s contributed to both the domestic and international growth of the Groups’ client base as well as the success of the team. They have passed on a wealth of knowledge to their colleagues and respective successors across the business; we have learned a lot from them over the years.

Whist we will of course miss them day-to-day, we look forward to continuing our relationship with them all as valued members of the AAB Alumni. Before then, we look forward to celebrating them, their achievements and of course wishing them both a very happy retirement with some special events planned over the next few months.”

AAB’s team of over 460 people operates from 5 key regional hubs across the UK, delivering a highly complementary portfolio of business services including audit, accounting, tax, payroll, HR, consulting, wealth and corporate finance, to clients globally.

Anderson Anderson & Brown (AAB), the tech enabled business critical services group, has announced the appointment of Rob Jarvis as HR Director, based in the business’ London office.

Rob has significant experience in the HR arena, having held senior leadership positions within the private sector over the last 10 years, most recently as Global Head of HR at Sera Global. He has a proven track record of coaching senior leaders and employees, directing various teams to achieve targeted goals, and streamlining HR processes to support organisations in meeting their corporate objectives.

This new role will see Rob growing the AAB HR team, delivering transformational HR projects, as well as supporting the M&A activity of the wider AAB Group. Whilst the role is focused within the internal HR team, Rob’s experience means he is well-placed to support the growth of AAB’s outsourced HR offering.

AAB’s vision is to become a tech-enabled business critical services group across finance and HR. With this goal in mind, the business has been growing organically and through M&A activity over the last few years. Several significant mergers and acquisitions were announced throughout 2021.

Graeme Allan, Chief Executive at AAB said, “We are delighted that Rob has joined AAB. His appointment not only facilitates our ongoing succession development plan, but also our ambitious growth plans.

“Rob is already well-known across our business, having worked with us for many years as a client, so we have no doubt that his knowledge and expertise will enable him to lead our HR team through this next stage of our journey. His experience also means he will play a key role in the growth of our outsourced HR offering to support the expanding AAB Group.”

Commenting on his appointment, Rob added, “AAB’s ambitious plans have been widely reported over the last 12-18 months, so it is great to be joining the team at what is an incredibly exciting time.

“I look forward to the unique opportunity to work with the teams across internal HR, outsourced HR and the wider leadership across the group, and of course working with some familiar faces again too.”

Anderson Anderson & Brown (AAB), the tech enabled business critical services group, has announced the appointment of Ken Beaty as Non-Executive Chair of the AAB Group.

Beaty has extensive experience working with the boards and shareholders of high growth private companies through his 20 years as a partner with private equity group 3i in Glasgow, Leeds and London. He now operates as an independent board Chair, working with both private and publicly quoted companies and also devotes a significant amount of time to his roles as Trustee and Chair with charities in healthcare, education and the Arts.

When asked what attracted him to the non-executive chair role at AAB, Ken explained “the AAB Group is flourishing and has a clear vision to continue to accelerate its growth in the coming years. With an exceptionally talented team, and strong backing from private equity investor August Equity, AAB has a clear commitment to deliver real value to clients and is focused on building a leading tech-enabled, business critical services group which is highly differentiated in the market. I am delighted to have the opportunity to support AAB as it continues on this journey.”

Graeme Allan, AAB Chief Executive commented “It is fantastic to have Ken join the AAB Group at what is an incredibly exciting time for our business. His depth of experience, strategic vision and extensive network will be invaluable to the Board as we identify new opportunities to continue to fast-track our growth.”

In 2021, we embarked on an organic acquisitive growth joruney, fuelled by recent investment from August Equity

Anderson Anderson & Brown (AAB), the tech enabled business critical services group, has revealed that its 2021 mergers and acquisition activity exceeded its previous records. The successful completion of over 50 transactions, with a combined total deal value in excess of £750m, represents the highest deal value in the firm’s impressive 20-year track-record in the SME dealmaking community.

One of the highlights included supporting sixth generation family business, the Donaldson Group, with its acquisition of both Stewart Milne Timber Systems, marking its entry into the timber frame market, and Kitchens International, Scotland’s leading independent kitchen retailer.

In the energy sector, one of the firm’s stand-out transactions was Waldorf Energy’s £330 million acquisition of Cairn Energy’s interests in the Catcher and Kraken’s fields in the North Sea.

Building on its increasing presence in the tech sector, the firm completed 15 deals in this buoyant arena during 2021, including advising on the sales of Drivercheck to Ebbon-Dacs, Suretec to Telcoswitch and C-SAM to Jonas Software. It supported a number of fund-raising exercises in the tech sector too, including the investments in isol8 by BGF, Forev by Scottish National Investment Bank and Intebloc by Stena Drilling.

AAB has also experienced a record year for transaction support deals, such as supporting GEG Capital with its acquisition of Genesis Personnel, BGF with its investment in Kick ICT, Agilitas-backed Learning Curve Group with its acquisition of Motivational Preparation College for Training (MPCT) and Puma Private Equity with its investment in Everpress.

Douglas Martin, Chief Commercial Officer and Head of Corporate Finance at AAB, said, “This is an exciting time for us as we continue to build our deal-making presence across the UK. We are delighted to have enjoyed a very successful year on the back of our commitment to expand our geographical and sector coverage in line with the growth plans of the wider AAB Group. This achievement is a clear testament to the team’s continued drive, ability and entrepreneurial spirit to initiate and deliver transactions across the UK. Given the fantastic pipeline of deals we have going into 2022, we’re excited about what this year will bring.”

Anderson Anderson & Brown (AAB), the tech enabled business critical services group, has appointed an experienced engineer to join their Innovation Tax team. Alejandro Alcala-Canales joins AAB following a successful engineering career, and will be applying his sector-specific expertise to assisting companies claiming R&D tax relief. As a specialist in Innovation Taxes, Alejandro will work with AAB’s team across its network of offices around the UK.

Prior to joining AAB, Alejandro developed his specialist R&D expertise in a number of Innovation Tax relief roles. He has supported businesses with preparing R&D tax claims across the energy and renewables, manufacturing, construction, architecture and textiles sectors. Having previously worked as a mechanical engineer, Alejandro has developed a unique set of skills, alongside the technological and scientific expertise to provide businesses with the support they need to submit a successful R&D claim.

The Innovations Tax team at AAB has a strong track record in agreeing successful R&D claims with HMRC, securing £10million of tax savings for clients in the last three years alone. The team also utilise the available Patent Box tax relief in order to reduce the effective tax rate on the profits of companies and their commercial transactions.

Derek Gemmell, Partner and Head of Innovations Tax at AAB commented: “Alejandro is an excellent addition to our senior Innovations Tax team. R&D tax relief has become an increasingly important area as companies continue to innovate to create unique offerings, seeking new ways to grow and develop new products or service offerings. However, navigating through the process for claiming this relief can be a time-consuming challenge for businesses, with the risk of tax related penalties from HM Revenue & Customs should the claim be incorrect. Therefore, a specialist advisor to guide a company through the process of making a claim is always advisable, in order to ensure that robust evidence supporting the claim is available to HMRC if required. Such requirements are expected to become more common given recent HMRC consultation on the workings of R&D tax relief.

“Alejandro’s expertise adds a further dimension to our Innovations Tax offering, and to our ability to provide clients with solutions in this complex area.”

Alejandro added: “I am delighted to be joining AAB at what is an incredibly exciting time for the business. The Innovations Tax team not only have a fantastic track record in delivering for clients in this space, but have ambitious growth plans. I am looking forward to playing my part in further developing this area of the business across Scotland and beyond.”

As business confidence returns, Anderson Anderson & Brown (AAB), the tech enabled business critical services group, has reported a substantial uplift in demand for its fundraising services in the energy technology sector.

In the most recent quarter alone, AAB has advised on three transactions for its clients Intebloc, Forev and isol8 in this growing sector, with a combined value of more than £5.5million.

AAB helped to secure significant investment for Intebloc, the intelligent crane and lifting technology company, from Stena Drilling, in exchange for a 30% stake in its business. This transaction underscores heightened interest from larger industrial organisations in making strategic investments which offer access to new innovation.

The firm also advised on the £2 million investment from The Scottish National Investment Bank into Forev, the electric vehicle charging network owner and operator whose goal is to bolster the EV charging infrastructure in Scotland.

More recently, AAB supported isol8 Ltd in a transaction to secure £3.5 million of funding from BGF. isol8 is emerging as a pioneer in zero emission oil and gas wellbore barriers, an innovative technology that is helping to drive down global methane and carbon dioxide emissions.

Alasdair Green, Director and Lead of the Energy team at AAB, said: “Positive interest in these three diverse and growing companies not only demonstrates healthy investor appetite for and commitment to energy technology, it also highlights the diversity of progressive innovation that can be found in this sector.

“Whereas conventional investor themes such cost reduction, efficiency improvements, high quality management teams and clear business strategies will always be core, emerging themes demonstrated by these fund-raising transactions include growing interest in green energy and clean tech, digitalisation and emissions control.

“As the energy sector and wider economy recover from the pandemic, and continue to adapt to dynamic and changing market pressures, it is extremely encouraging to see companies grow through innovating and developing new technology. At AAB, we are very proud to have supported these three recent deals which exemplify the increased demand for our services that we are experiencing from the energy technology sector.”

Anderson Anderson & Brown (AAB), the tech-enabled business critical services group, is building on the existing support it provides to Scotland’s tech sector through a series of innovation hub and accelerator sponsorships.

AAB’s established Tech team is located across AAB’s offices in Edinburgh, Glasgow, Aberdeen, Leeds and London, providing end-to-end finance and people solutions to tech businesses, and have become official sponsors of the HALO and the Filament Smart Things Accelerator Centre (STAC).

The HALO Kilmarnock is a £63m low carbon brownfield urban regeneration project on a 23-acre site, formerly the home of Johnnie Walker, the world’s leading Scotch whisky.

The HALO Enterprise and Innovation Centre, which opens its doors in January 2022, will create an industry leading entrepreneurial accelerator for business growth concentrating on the green economy. The HALO is also creating a cyber and digital training learning facility that will support SMEs on The HALO trading floor, establishing The HALO at the forefront of the digital Fourth Industrial Revolution.

AAB will be the sole accountancy and HR partner for the initiative. The partnership will be focussed primarily on the HALO Enterprise Floor, a space created for Start-Ups and SMEs, where AAB’s Tech team will be providing advice to a unique entrepreneurial community full of growing businesses.

Filament STAC is an Internet of Things accelerator programme dedicated to helping ambitious Scottish Start-ups grow sustainably and become competitive in a global market. The 18-month programme, which is based on successful formats in Canada, will be delivered by a team headed up by Filament STAC CEO Paul Wilson and begins in Glasgow later this month. The first cohort consists of 10 companies. AAB’s role will be to deliver Finance related coursework to the cohort companies during the STAC academic calendar and also to provide strategic and technical guidance to the companies on a 1-2-1 basis.

Discussing the sponsorships, Head of Tech Strategy at AAB, Ian Marshall, said “The obvious take away from the past 19 months is that tech, no matter how you work or who you work for, has kept the economy going, and what’s exciting is so many of these innovative tech businesses are right on our doorstep.

We have a fantastic tech eco-system here in Scotland. Great universities producing talent, a mature investment culture and of course Scotland is a great place to live – the Scottish government’s commissioned Logan Report will also provide added impetus. We’re thrilled to be partnering with HALO and Filament STAC to ensure high growth businesses get the financial and people support they need. Our tech team are based flexibly across Scotland and have years of sector knowledge under our belts; and thanks to our recent acquisition of a majority stake in Purpose HR, we’re able to offer even more support to these businesses.”

In addition to the partnerships with HALO and Filament STAC, AAB will also be supporting the University of Edinburgh’s AI Accelerator programme assisting the businesses with workshops and tutorials.

Lisa Thomson, CEO of Purpose HR, an AAB Group Company, added ‘From day one Purpose HR has worked with Edinburgh’s early stage and high growth tech businesses to provide flexible, tailored, strategic and operational HR support to enable growth and effective business performance. The innovation hubs AAB are supporting are vital in allowing tech talent to thrive. Since joining the AAB Group, we’ve been able to offer that end-to-end solution to our clients, and we’re looking forward to meeting more exciting businesses at these hubs later in the year.”

Paul Wilson, Chief Executive of Filament STAC, commented ‘We’re really excited to have the AAB Tech team share their knowledge and support to our first cohort. AAB understands the potential businesses in Scotland have to become main players in smart, connected devices and Internet of Things solutions. Our partnership will allow us to work together to support businesses take that next step to perform strongly and lead in the international market, and in turn create a thriving Scottish tech scene.”

Marie Macklin CBE, Founder and Executive Chair of the HALO, said: “It’s an exciting time for the HALO Kilmarnock as we get set to open the doors to our HALO Enterprise and Innovation Centre in January 2022.

“The HALO is 13 years in the making and we’re really pleased to be welcoming AAB on our journey to establish The HALO at the forefront of the Fourth Industrial Revolution, digitalisation.

“We’re setting the standard for low carbon energy sites across the UK by building a sustainable community powered by renewable energy. With a state-of-the-art environment for entrepreneurs specialising in green growth, The HALO is uniquely placed to support AAB in enhancing the support it currently provides Scotland’s high growth tech businesses.”

Anderson Anderson & Brown (AAB), the tech-enabled business critical services group, today announced a merger with Leeds-based independent accountancy firm Sagars to expand its UK regional presence in line with its ambitious growth plans.

The two firms are on track to deliver a combined £40m+ revenue in the current financial year with a clear strategy in place to deliver £70 million group revenue by 2026, fuelled by recent investment from August Equity.

Sagars’ complementary geographic presence will further enhance the wider AAB Group as a key player in the accountancy and business services market in the UK, adding Leeds to its offices in Aberdeen, Edinburgh, Glasgow and London.

The group’s combined technology and talent – including 450+ team members across AAB and Sagars – will make for one of the UK’s strongest, most expansive portfolios of business services, including audit, accounting, tax, payroll, HR, consulting, wealth and corporate finance.

Commenting on the news, Chief Executive at AAB, Graeme Allan, said: “We have worked closely with Chris and the Sagars team over the last 10 years, and they are aligned with our 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 the opportunity Sagars presents in Leeds and this merger enables us to support an even wider range of SME and enterprise clients across the UK.”

Managing Partner at Sagars, Chris Jones, added: “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 complementary 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.”

AAB and Sagars are both members of Accelerate – a community of likeminded accountancy firms – and through it to Crowe Global which gives both businesses access to a network of accountancy firms in more than 130 countries around the world.

Anderson Anderson & Brown (AAB), the tech-enabled business critical services group, has announced a significant investment from August Equity to fast-track ambitious growth plans and realise AAB’s strategic vision of becoming a key UK regional player in the accountancy and wider business services market.

AAB is currently a leading Scottish regional player, with offices in Aberdeen, Edinburgh and Glasgow, and plans to build its market share across the Central Belt of Scotland alongside growing the number of regional hubs it operates from in key major cities across the UK.  AAB also has a London office focussed on payroll, global mobility and virtual finance which supports some of the group’s largest UK and international clients.

AAB’s team of over 350 provide a highly complementary portfolio of business services including audit, accounting, tax, payroll, HR, consulting, wealth and corporate finance.  The group supports a wide range of SME and enterprise clients, with a strong exposure to the energy, technology, business services, public & not for profit, food & drink and property & construction sectors.

August’s investment in AAB shall facilitate considerable investment in people, both existing and those who recognise the exciting opportunities being created across the group.  In addition, it will allow AAB to invest further in tech following the doubling of spend in this area during 2021.  It shall also provide significant firepower for AAB to pursue merger & acquisition opportunities (M&A) across the UK.   The partnership with August will enable AAB to continue to build on the momentum already created this year following the merger with Glasgow-based accountancy firm Hardie Caldwell, and acquisition of Edinburgh-based Purpose HR.

Graeme Allan, Chief Executive at AAB, said, “We are enjoying a fantastic period of growth but see so many opportunities to invest more heavily to fast-track this. August Equity’s investment will be instrumental in helping us build a high-quality regional business services group across the UK. They are also a great cultural fit and are as excited about our partnership and the future as we are.

As we grow, we will remain committed to investing and developing our people and of course clients will benefit as we expand our portfolio of tech-enabled services for the SME and enterprise markets. We shall work closely with August as we actively seek M&A opportunities with a particular focus on partnering with firms who adopt a similar ethos to us driven by a passion for helping people, staff and clients alike, achieve their goals.  This model will establish a wide equity ownership whilst maintaining the opportunity for real partner progression for the future leadership of the group.”

David Lonsdale, Partner at August Equity, added, “We are delighted to be investing in AAB and we are excited to be working with Graeme and the team. We look forward to working together to accelerate the growth of AAB and build a leading tech-enabled, business critical services group which is highly differentiated in the market.”

Pictured: Graeme Allan, Chief Executive at AAB and David Lonsdale, Partner at August Equity

Anderson Anderson & Brown (AAB), the tech-enabled business critical services group, has announced the promotion of Katy Thomson to Director.

Katy, who is based in the business’ Edinburgh office, is a key member of AAB’s corporate tax team, advising both individual and corporate clients on all aspects of UK corporate and personal tax. She has significant specialist tax experience, including a particular emphasis on providing tailored advice on transactions, in conjunction with AAB’s corporate finance team.

As a member of the business’ ‘Expertise to Entrepreneurs’ team, Katy provides structuring and tax advice with a commercial focus to entrepreneurs, helping them to navigate complex tax rules and meet their current and longer-term objectives.

Lyn Calder, AAB Managing Partner – Edinburgh, commented: “Katy’s promotion to Director is richly deserved, and recognises not only her skill and extensive technical expertise, but also her contribution and commitment to the business. She has played a significant role in growing our client base in Edinburgh and across the Central Belt.

“Following our recent merger with Glasgow-based accountancy firm Hardie Caldwell, and our acquisition of Edinburgh-based Purpose HR, we remain committed to developing talent and investing in our ever-growing team. Katy’s promotion is the most recent demonstration of that investment, and contributes to our ambitions to build and sustain a strong leadership team. In so doing we shall continue to meet our clients’ diverse needs across a changing market, both in the UK and globally.”