Fast-growing Anderson Anderson & Brown (AAB) has reported a record year for mergers and acquisitions activity.
The Aberdeen-based accountancy and business services group said it was at the heart of more than 50 completed transactions worth a total in excess of £750 million during 2021.
It is the highest total deal value in the firm’s 20-year track record in deal-making.
Given the fantastic pipeline of deals we have going into 2022, we’re excited about what this year will bring.”
Douglas Martin, chief commercial officer and head of corporate finance, AAB.
Highlights included supporting sixth-generation family business James Donaldson & Sons with its acquisition of north-east firms Stewart Milne Timber Systems and Kitchens International.
In the energy sector, AAB’s stand-out transactions included Waldorf Energy’s £330 million acquisition of Cairn Energy’s interests in the Catcher and Kraken fields in the UK North Sea.
AAB said its growing presence in the technology sector saw it complete 15 deals in this “buoyant arena” last year.
These included it advising on the sales of Drivercheck to Ebbon-Dacs, Suretec to Telcoswitch and C-SAM to Jonas Software.
Growing presence in the tech sector
AAB also supported fundraising exercises in the technology sector, including the investments in isol8 by BGF, Forev by the Scottish National Investment Bank and Intebloc by Stena Drilling
Elsewhere, AAB supported 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 and Puma Private Equity with its investment in Everpress.
AAB chief commercial officer and head of corporate finance Douglas Martin 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.”
In 2020 AAB saw 40 deals worth £250m through to completion. In 2019 there were 70 deals worth £500m.
Rapid expansion
AAB recently acquired Leeds-based independent accountancy firm Sagars in order to further expand its UK regional presence.
The move came on the back of investment from private equity firm August Equity.
Sagars continues to operate under its own name, with the enlarged group expected to notch up revenue of more than £40m in its current trading year and £70m by 2026.
The Sagars deal completed a hat-trick of acquisitions by AAB last year, with the firm also snapping up a majority stake in Edinburgh firm Purpose HR and Glasgow-based accountancy firm Hardie Caldwell in a strategic expansion push into the central belt.
Firm celebrating 32nd year
AAB was founded in 1990 by retired senior partner Mike Brown and two former Ernst & Young colleagues, Bobby Anderson and Sheena Anderson.
It now boasts 450 staff, including 28 partners, across offices in Aberdeen, Edinburgh, Glasgow, Leeds and London.
The firm provides audit and accounting, tax, payroll and human resources, outsourcing and advisory services to clients operating throughout the world.
