AAB Consolidates Brands to Propel Future Growth

AAB, a professional services firm across the UK and Ireland, has announced a strategic consolidation of its brands, to strengthen its position as a leading provider in the mid-market. 

Now employing c.1,000 people across 12 office locations, FPM will transition to be under the brand name AAB and Think People will fully integrate to trade under the AAB People brand name.  

FPM was established in 1991 by Feargal McCormack headquartered in Newry. Strong growth each year since 1991 saw FPM expand into a top-tier cross-border firm with 5 offices and over 120 team members. In a strategic growth deal in 2022, FPM joined AAB and marked the first private equity investment of its kind across the island of Ireland.  

Think People, an HR consultancy established by Emer Hinphey and Anne Dougan in 2006 also joined AAB Group in 2022. Headquartered in Belfast, the team brought new skills to the service capabilities of AAB with the introduction of leadership and development services for clients across the island of Ireland. 

This strategic move is designed to simplify and optimise the strength of the overall AAB brand, enhance market presence, and deliver a more integrated experience for clients. AAB’s strategic growth plan, which includes enhancing client engagement, expanding its service offerings and investing in technology, has continued backing from August Equity.  

“Our brand consolidation marks a pivotal moment in our growth journey,” said Emma Lancaster, Chief Executive at AAB. “By combining our diverse services under the widely recognised AAB brand, we are not only simplifying our structure, but also amplifying our ability to deliver integrated, innovative solutions to our clients. This alignment is crucial as we continue to pursue our ambitious growth targets and expand our footprint in the UK and beyond.”

“AAB’s commitment to our clients remains steadfast, with a focus on delivering unparalleled accountancy, consultancy and advisory services that drive success,” added Lancaster. “By uniting our brands, we will operate more efficiently and effectively, enhancing our ability to offer holistic professional services, and ensuring that our clients continue to receive exceptional support as they navigate their own journeys.

“We have a wealth of experience and expertise across all five brands, and we are delighted to welcome these individuals to the AAB brand. I’d like to thank everyone in our team for their continued hard work.”

A transition period is underway where clients can expect a seamless change with no disruption to services. The unification will enhance the firm’s ability to offer holistic professional services, reinforced by the depth of expertise synonymous with the FPM and Think People brands becoming AAB and AAB People, respectively. 

“AAB’s mission has always been to provide exceptional service and value to our clients,” added Lancaster. “By uniting our brands, we will operate more efficiently and effectively, ensuring that our clients continue to receive the best possible support as they navigate their own journeys. I’d like to thank everyone in our team across the island of Ireland for their continued hard work delivering exceptional support for our clients.” 

Feargal McCormack of FPM and Emer Hinphey of Think People added: “As founders of FPM and Think People, we are both immensely proud of the milestones achieved and excited for what’s to come. Transitioning to the AAB brand marks a deliberate step towards our future and highlights the collective strength and shared mission of delivering outstanding service and value to clients. Together, we look forward to navigating this exciting new chapter of growth and possibility.” 

These measures are designed to support the rapidly growing business and its expanding client base which has trebled in size since 2021. In 2023, AAB ranked in the top 20 of Accountancy Daily’s Top 75 Accountancy Firms. AAB plans to continue the rapid growth journey and has heavily invested in technology and integration to support these ambitious plans. 

AAB’s commitment to its clients remains steadfast, with a focus on delivering unparalleled accountancy, consultancy and advisory services that drive success. 

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Bumper Round of Leadership Promotions Recognises AAB Group Top Performers

AAB, the tech-enabled business critical services group, has announced that 10 members of its team have been promoted to senior leadership positions in the group, as part of a wider promotion round across offices in the United Kingdom and Ireland.

Amanda Ollason, Corporate Tax Partner, Graeme Penman, Audit Partner and Stuart Rose, Audit Partner all joined the business in 2008 through the AAB Group graduate programme. During that time each has pursued their individual progression, while supporting an ever-growing client-list as the group continues to evolve and expand.

Linda Kelly has also been promoted to Payroll Partner. She joined French Duncan in 2001, before becoming part of the AAB team in April 2023, when French Duncan was acquired by the rapidly expanding group. The four new Partners have a combined service of 65 years with the company.

In addition to the Partner promotions, six team members across the group have also been promoted to the role of Director:

A further 46 team members have been promoted across the wider AAB organisation.

Emma Lancaster, Chief Executive Officer at AAB Group commented: “As a group we pride ourselves on our commitment to developing our people, and this promotion round is no exception. Amanda, Graeme, Linda and Stuart have all demonstrated superb leadership, and I’m delighted to see them progress to Partner. I look forward to working with them, and our newly appointed Directors, as we continue to deliver unparalleled services for our clients.

“What a fantastic way to kick-start 2024, by recognising the expert knowledge, commitment and dedication of 56 team members with these well-deserved promotions across our office locations.”

Since securing investment from August Equity in October 2021, AAB Group now employs c1,000 people across 12 office locations in the United Kingdom, Ireland and the United States.

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AAB EXPANDS HR SERVICE OFFERING WITH ACQUISITION OF ELSTAN HR

AAB, the tech-enabled business critical services group, has today announced the acquisition of Elstan HR – a well-established outsourced/integrated HR business in South-East England – as part of its strategy to further extend the HR consultancy services offered across the group.

Founded in 2015 by current MD Katie Aldred, the Elstan HR team works with clients across a range of sectors, but has developed particular expertise in working within the technology and leisure/retail sectors.

Following this acquisition, for an undisclosed amount, AAB Group’s business unit dedicated to HR and People services (AAB People in Scotland and Think People Consulting Ltd in Ireland) now comprises a team of 60+ HR, Health & Safety and Talent Development specialists working across six locations, delivering an annual turnover in excess of £4.5million.

Douglas Martin, Chief Commercial Officer at AAB commented: “The acquisition of Elstan HR provides an exciting opportunity for AAB Group to expand the range of HR consultancy services that we can deliver for our clients, particularly integrated HR support for large SMEs and corporates. It also serves to further enhance the AAB Group’s presence as a leading provider of HR, health and safety and talent development services across the UK. We are delighted to welcome the Elstan team to the group and look forward to working together.”

Louise McCosh, AAB People Partner added: “This is a great strategic fit for the AAB People business unit. Not only are Elstan HR’s culture and values synergistic with the AAB Group, but this move will also provide us with a footprint to grow in London and South-East England across all the AAB People service lines.”

The Elstan HR team have been shortlisted for the Customer Service Award in the annual Ashford Business Awards, while MD Katie Aldred is herself shortlisted for Businesswoman of the Year. The winners will be announced at the awards gala dinner in Kent on 29 November 2023, the same month that Elstan HR will begin trading as AAB People.

Commenting on the deal, Katie Aldred said: “This deal has come together at a great time for us as we look to accelerate our next stage of growth, whilst enhancing the depth and breadth of the services we offer. AAB has a strong relationship-driven approach and we are looking forward to working with our new colleagues in AAB People, and across the wider AAB Group, to deliver even more value for our clients, whilst providing great opportunities for our team.”

Emer Hinphey, CEO of Think People Consulting Ltd added: “I’m delighted to welcome Elstan HR to the AAB Group, and I am very much looking forward to working with our new colleagues in England as we continue to grow and expand our HR, learning & OD services across the UK and Ireland.”

This latest acquisition makes Elstan HR the 9th business to join the group since securing investment from August Equity in October 2021.

AAB Group now employs more than 1,000 people across the UK, Ireland and internationally. The group’s rapid growth journey is expected to continue in 2024 as they continue to pursue ambitious organic and acquisitive growth plans.

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AAB Group Announces Largest Acquisition

AAB, the tech-enabled business critical services group has today announced their largest acquisition to date.

Since securing investment from August Equity in October 2021, AAB has been on a strategic growth journey with this latest acquisition marking the eighth business to join the group in the past 18 months.

French Duncan has long been recognised as one of the leading providers of professional services in Central Scotland and employs more than 200 people across offices in Glasgow, Edinburgh and Stirling. The firm provides a wide range of accountancy and business advisory solutions to support privately owned businesses, small and medium-sized enterprises (SMEs) and individuals to reach their business and personal goals.

The combined AAB and French Duncan teams are 350+ strong across Central Scotland and this acquisition further strengthens the team to deliver client-focused services to businesses and individuals across a key growth region for the AAB Group. The addition of French Duncan will build on the existing AAB Group specialist teams in audit, tax, business advisory, corporate finance & payroll/HR (including health & safety) and doubles the size of the AAB restructuring & recovery team across the UK & Ireland. It also introduces 50+ leisure & hospitality finance specialists to the group who provide bespoke hotel accounting services to clients across the UK.

From Thursday 27th April, French Duncan will begin trading as AAB, with FD Hotel Accounting trading as AAB Hotel Accounting and FD People trading as AAB People. French Duncan Wealth Management and FD Intelligence do not form part of the transaction.

Graeme Allan, Chief Executive at AAB Group commented: “This is our largest strategic acquisition to date and significantly strengthens our market position in Scotland. We are truly delighted to welcome the French Duncan team to AAB. We share a passion for supporting clients to achieve their goals by offering an unparalleled range of services to the businesses and individuals who choose to work with us and I know our teams will be able to provide an even better service to our clients as a result of this deal.”

Graeme Finnie, Managing Partner of French Duncan added: “This deal is a superb next step for the French Duncan team. We have admired the journey AAB has been on and by joining the group ourselves we will create unmatched opportunities for our teams and our clients through enhanced technology, investment and expertise.”

Graeme Finnie will take on the role of Managing Partner – Glasgow for AAB following the deal.

AAB Group now employs more than 1,000 people across the UK, Ireland and internationally. The rapid growth journey is expected to continue across the UK and Ireland in 2023.

Hear more from Graeme Allan and Graeme Finnie.

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AAB Group launch AAB People with re-brand of Purpose HR

AAB, the tech-enabled business critical services group, has today (Monday 9th January) launched AAB People with the re-branding of Purpose HR. The newly created AAB People brand is dedicated to supporting businesses who value their teams and see them as critical to their success. The experienced team at AAB People provide support by building strategies and philosophies to create cultures that thrive and help people to deliver their best work. The team are also able to support with operational and day-to-day needs of businesses who are growing and are yet to establish their own in-house teams or those who require additional support to supplement their existing teams. 

Purpose HR was founded by Lisa Thomson in 2014 and joined the AAB Group in 2021, now with a team of more than 20 specialists based in offices across Aberdeen, Glasgow and Edinburgh. Purpose HR will become ‘AAB People’ from 9th January 2023.  

Douglas Martin, Chief Commercial Officer at AAB Group said: “We have rapidly grown the AAB Group over the past 15 months since August Equity invested in the business and introducing our new AAB People business unit allows us to simplify our services supporting existing and new clients. Our AAB People team have a wealth of experience working with companies of all sizes across a range of industries supporting with organisational strategy and people & culture development. The bespoke support on offer from our team is tailored to the unique needs of each client and we can’t wait to help more businesses achieve their goals in 2023 with AAB People as their chosen partner.” 

Think People, based in offices across the island of Ireland joined AAB Group in August 2022 will continue to trade as Think People.  

Find out more about our services here. 

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AAB People celebrates first anniversary of joining AAB Group with rapid growth

  • Expansion to new sectors sees turnover double in 12 months 
  • Headcount increased to 20 people across Scotland 
  • New office locations in Aberdeen and Glasgow 

An HR business founded in Edinburgh has doubled in size since joining the AAB Group 12 months ago. 

AAB People was founded by Lisa Thomson in 2014, to provide HR advice and support to early stage and high growth investor-backed businesses through tailored consultancy and ‘HR as a service’ outsourcing.  

In July 2021 the business joined AAB Group, complementing the Group’s high growth areas including payroll and virtual finance.  

Prior to joining the Group, AAB People’s team of 10 people was based solely in Edinburgh and focused on working with businesses in the technology and life science sectors. In the past year, the AAB People team has doubled in size, with 20 team members now working from offices in Edinburgh, Aberdeen and Glasgow. AAB People has also expanded into more sectors, providing essential services to businesses in the energy and food and drink sectors. 

As the team has grown, so have AAB People’s client numbers and recurring revenue. Both have doubled in 12 months, with turnover continuing on an upward trajectory. 

Commenting on the rapid growth, Lisa Thomson, AAB People CEO, said: “The past 12 months have been really exciting for the team at AAB People, and as a founder it has been so rewarding to see the goals I set for the business come to fruition.  

“Expanding into new locations has also allowed us to bolster the number of senior and early career positions as well as making several internal promotions. Developing our footprint across different sectors was a significant priority for me when we joined AAB Group, so witnessing clear progress in these areas in such a short space of time makes me incredibly optimistic for the future.”  

Douglas Martin, Chief Commercial Officer at AAB said: “We knew this combination was a strong strategic fit for both businesses, and to see the success achieved in the first year positions us well to deliver on our ambitious growth plans. Lisa and her team have been a fantastic addition to the AAB Group and we look forward to growing this part of our business even further going forward.” 

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AAB Announces Acquisition of PurposeHR

Anderson Anderson & Brown (AAB), the tech-enabled business critical services group, has announced that it has acquired a majority stake in Edinburgh-based PurposeHR.

PurposeHR provides human resources (HR) advice and support to early stage and high growth investor-backed businesses through tailored consultancy and ‘HR as a service’ outsourcing. It was founded in 2014 by Lisa Thomson, a former Saltire Fellow who worked at Wolfson Microelectronics post-IPO and prior to its acquisition by Cirrus Logic in 2014. Lisa is also a former Scotland Director for Startup Grind and an Ambassador for Women’s Enterprise Scotland. The company was among the first cohort of businesses on the Scottish Enterprise-backed ‘Unlocking Ambition’ programme.

PurposeHR is a strategic fit with AAB group, complementing the group’s high growth areas including payroll and virtual finance. The acquisition, which is for an undisclosed sum, follows AAB announcing its ambitious growth plans to become a £50 million revenue group by 2025 and its recent merger with Glasgow-based accountants Hardie Caldwell.

The deal with PurposeHR not only adds a new dimension to the group’s growing central belt presence but provides exciting growth opportunities across the UK and internationally. The acquisition will also accelerate PurposeHR’s growth aspirations, with the business continuing to operate under the PurposeHR brand and Thomson running the business as CEO and shareholder.,/P>

PurposeHR client base is currently focused on the tech and life science sectors, and includes Cyan Forensics, Blackford Analysis, Modulr Finance and Topolytics. The combined group will actively target further growth in the tech sector across the UK. In addition, AAB is seeking to broaden PurposeHR’s offering into other key growth sectors such as energy, food and drink and business services. As a result, PurposeHR is actively looking to grow its headcount with a significant recruitment campaign kicking off immediately following the transaction. There are to be no job losses at PurposeHR or AAB as a result of the deal.

AAB group now has a combined headcount of over 340 staff across its Edinburgh, Glasgow, London and Aberdeen offices, 10 of those coming from PurposeHR, and a turnover of over £30 million.

Graeme Allan, Chief Executive at AAB, commented: “As a business critical services group, we are focused on providing solutions for our clients across the key areas of finance and HR. PurposeHR being part of the AAB group enables us to continue to build our capabilities in the HR space and extend our payroll and HR offering to clients.

“We are delighted to welcome PurposeHR to the group and our growing team in the Central Belt, and look forward to exploring the ways in which we can enhance our service offering to existing and new clients across the UK and internationally.”

Lisa Thomson added: “We have known AAB for a number of years and already have several mutual clients. The deal has come together at a great time for us as we look to accelerate our next stage of growth. It has been an exciting journey for the team and I to grow PurposeHR to this stage and having the chance to support so many amazing and innovative clients. Despite the challenges of the last year our client base has been actively growing and companies are increasingly recognising the value of investing in HR support and their people. By becoming an AAB group company we will have access to the wider group resources and infrastructure, enabling us to increase the range of services we can offer to clients and to expand our team – we will be hiring across Edinburgh, Aberdeen, Glasgow and London.”

Pictured (from left to right):
Graeme Allan (Chief Executive, AAB), Lisa Thomson (CEO, PurposeHR) and Lyn Calder (Managing Partner – Edinburgh, AAB)

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