AAB, a chartered accountant and business advisory firm, is combining with Hardie Caldwell, and it said the two firms reported a combined turnover last financial year of £30 million, with ambitions to deliver group revenue of £50m by 2025 following the merger.
Additionally, AAB, which also describes itself as a tech-enabled business-critical services group, said that it expects to strengthen its 330-plus team later this year, and can confirm no job losses from either firm as a result of the merger.
The Hardie Caldwell business in Glasgow will be re-branded AAB with immediate effect, with the two firms having already worked together as part of the UK-wide Accelerate association of accounting firms for the last three decades.
"Both AAB and Hardie Caldwell clients shall benefit from gaining access to a group with broader resources and enhanced service capability, particularly across the Central Belt of Scotland, where AAB will now have an 80-plus-strong team,” they also added.
The three Hardie Caldwell partners – Angus McCuaig, Douglas Emery and Pauline McGarry – all become AAB partners as a result of the merger, with Mr McCuaig, current managing partner of Hardie Caldwell, becoming AAB’s managing partner in Glasgow, having been appointed to the AAB Board.
AAB chief executive Graeme Allan said: “This is a fantastic development for both businesses, with a shared vision of providing an awesome client experience and supporting our clients’ diverse needs across sectors and geographies. The merger provides AAB with a greater geographical footprint and gives us a key presence in Glasgow, which will help us realise our growth strategy to 2025 and beyond. This is an extremely important milestone for the group.”
Mr McCuaig also commented: “We have a long history of working in partnership with AAB and look forward to moving this on to the next level through the merger of the two firms. We are hugely excited by the opportunities this creates for both our staff and clients as we embark on exciting growth plans to create a much larger AAB business in Glasgow and across the wider Central Belt.”
The news comes after AAB, which says it supports clients across nearly every major country in Europe, North and South America, Asia, Africa and Australia – recently revealed that its financial planning arm had marked its tenth anniversary by reaching 400 clients – and assets under advice of more than £400m.
Mr Allan said at the time: “There have been many standout moments for our wealth team in the last ten years, and it’s great to be able to reflect back on these at the same time we reach two very key milestones.
“Looking ahead, our team will build on the success we have achieved in the last decade, whilst continuing to enhance our services to meet our clients’ needs, develop our team and grow our business.”