AAB, the fast-growing Aberdeen-based accountancy and business services group has unveiled its first US acquisition.
Payroll services company Dominion Systems, based in Grand Rapids, Michigan, is now part of AAB’s diverse portfolio. The value of the deal was undisclosed.
AAB said Dominion had been a “trusted partner” for the past five years, supporting its global payroll expansion plans.
We have seen an increasing number of UK businesses expanding to the US over the last few years.”
Douglas Michael, partner and US tax practice lead, AAB
The newly acquired business has already started trading as AAB Payroll Inc.
It is led by president Chris Andree, who has been with the US business for 10 years,
AAB’s enlarged payroll and “global mobility” team boasts more than 100 people in offices across the UK, Ireland and US.
Douglas Michael, partner and US tax practice lead, AAB, said: “We have seen an increasing number of UK businesses expanding to the US over the last few years, from start-ups to established businesses requiring our specialist support in US payroll.
“Remaining compliant with cross-border payroll has never been more complex, and our enhanced team will be on hand to support any business or individual working in the US.”
‘Exciting’ times for AAB Payroll Inc
Mr Andree added: “It’s exciting to be a part of the AAB journey, particularly with regard to firmly establishing and growing payroll and advisory operations in the United States.”
AAB has been on a rapid growth journey since it secured investment from London-based August Equity in October 2021.
Dominion is the group’s seventh acquisition in the past 16 months.
It also complements the US global mobility tax practice launched by AAB last year.
This provides individual and employment tax advisory and compliance support to clients with an American footprint.
Remaining compliant with cross-border payroll has never been more complex.”
AAB, based at Prime Four business park, in Kingswells, has annual revenue of about £65 million.
It employs more than 750 people globally, including in excess of 50 partners.
Last August the group unveiled its sixth acquisition in just over a year.
It announced it had snapped up Irish human resources business Think People Consulting for an undisclosed sum.
That deal came just a few weeks after the group swooped to buy customs consultancy Charlton House, also for an undisclosed sum.
Conversation