A landmark deal has been agreed between two professional services firms.
AAB has invested in South East-based firm Kreston Reeves in a move that takes the combined business beyond £200 million in annual revenue and marks the largest transaction AAB has completed to date.
Emma Lancaster, chief executive at AAB, said: “This is a major milestone for AAB and a clear demonstration of our ambition to become the leading professional services firm serving the mid-market.
“Growing the group beyond £200 million revenue is not about growth for growth’s sake – it’s about building a resilient, sustainable business that delivers long-term value for our clients, our people and our communities.”
The combined firm will employ more than 1,800 people across 23 locations in the UK and Ireland.
Kreston Reeves brings in more than £50 million in revenue, with over 550 employees across seven offices in London, Kent, and Sussex.
Richard Spofforth, managing partner at Kreston Reeves, said: “This is a significant milestone for our business, people and clients.
“Most importantly, AAB shares the same values as Kreston Reeves, giving us a combined platform for sustainable long-term growth.”
The deal was supported by Goldman Sachs Alternatives and expands AAB’s reach while broadening its service capabilities.
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Jose Barreto, Partner, and Mihir Lal, Managing Director, Private Equity at Goldman Sachs Alternatives, said: “We are very excited about the strategic combination of AAB and Kreston Reeves. This partnership accelerates our vision for a national presence across the UK and Ireland, delivering essential scale in the South-East of England.”
The deal remains subject to regulatory approval.
