Addleshaw Goddard has advised Anderson Anderson and Brown (AAB) on its major investment in Leeds-based accountancy firm Sagars by August Equity.
August’s investment in AAB will reportedly allow AAB to invest further in tech following the “doubling of spending in this area” during 2021.
Addleshaw Goddard said the merger will also provide “significant firepower” for AAB to pursue merger and acquisition opportunities (M&A) across the UK.
Over the last 12 months, Addleshaw Goddard has advised AAB on two mergers, an acquisition and a significant investment.
The recent merger forms part of AAB’s plans to fast track its future growth plans and to become a “key UK regional player” in the professional services market.
The Addleshaw Goddard team advising AAB on all four of its deals was led by corporate partner and head of Scotland, David Kirchin, and legal director, Laura Falls.
Sagars is led by seven partners and supported by a further 100 specialists covering tax, accounting, virtual finance, payroll and audit.
Additionally, AAB’s team is composed of over 450 people with a portfolio of business services including audit, accounting, tax, payroll, HR, consulting, wealth and corporate finance.
Kirchin said: “AAB is enjoying a fantastic period of growth across the Central Belt of Scotland and this latest deal is the next important step in an ambitious strategy to grow the team’s footprint and establish the business as a key UK regional player in the accountancy and wider business services market.
“We are very pleased to be supporting Graeme Allan and his team on their M&A strategy as well as external investment into the business and the momentum they are building.”