AAB, Kreston Reeves to form accounting group with $273m in revenue

Core Insights - AAB has entered into a business combination with Kreston Reeves, aiming to create a leading professional services firm for the mid-market with an expected annual revenue exceeding £200 million ($273 million) [1][2] Group 1: Business Combination Details - The merger is part of a trend of consolidation in the accounting sector, driven by increasing competitive pressures [3] - The combined entity will enhance Kreston Reeves' investment in staff, technology, and tools, improving service delivery to clients [3] - AAB will expand its presence in London and the South East, with Kreston Reeves serving as a regional hub [3] Group 2: Company Profiles - Kreston Reeves operates seven offices in London, Kent, and Sussex, employing approximately 550 people [2] - Following the merger, AAB will employ over 1,800 people across 23 locations in the UK and Ireland [4] - AAB has completed 18 transactions in the UK and Ireland over the past four years, supported by Goldman Sachs Alternatives [2] Group 3: Future Outlook - The transaction is pending regulatory approval and is anticipated to close in spring 2026 [4] - AAB's CEO emphasized that growth beyond £200 million is aimed at building a resilient and sustainable business that provides long-term value [2]