“This is a strategically important acquisition for AAB and another clear demonstration of our ambition” – Mark Lappin
AAB has acquired Veritas Advisory, in a deal that expands the Scottish-founded accounting firm’s reach across the investment, property and private capital markets.
Bosses at AAB said the acquisition, on undisclosed terms, marked a significant step forward in the firm’s ambition to become “the UK’s leading adviser to ambitious businesses, investors and entrepreneurial organisations”.
Mark Lappin, head of tax at the accounting and professional services group, said: “This is a strategically important acquisition for AAB and another clear demonstration of our ambition. We are building a business with genuine scale, deep specialist expertise and the ability to deliver exceptional outcomes for clients operating in increasingly complex markets.
“The team at Veritas Advisory is widely recognised as one of the leading capital allowances specialists. Their track record, reputation and technical expertise speak for themselves.
“Bringing them into AAB immediately enhances our position within the real estate, investment and private capital sectors and gives our clients access to even greater depth of expertise.
“This acquisition is another powerful statement of intent about where AAB is heading and the type of business we are becoming,” he added.
AAB - formerly Aberdeen-headquartered Anderson Anderson & Brown - has offices in the UK, Ireland and the US. It is backed by Goldman Sachs Alternatives and now has some 1,900 staff, including more than 100 partners.
Clive Curd, founder and director of Veritas Advisory, said: “We have built our business by becoming trusted advisers to some of the most active investors, corporates and professional firms in the market. Joining AAB provides the platform, scale and investment to accelerate our growth while preserving the specialist expertise and client focus that underpin our success and the opportunity to further develop our AI technology to better serve our clients and the broader real estate market.”
Lappin added: “The professional services market is changing. Clients increasingly expect access to broader expertise, deeper technical capability and advisers who understand the commercial realities they face.
“Our job is to stay ahead of that demand. This acquisition strengthens our ability to do exactly that and reinforces our position as one of the most ambitious and fastest-growing professional services groups in the UK and Ireland.”