Anderson Anderson & Brown (AAB), of Aberdeen, has continued its central belt expansion by snapping up a majority stake in Edinburgh firm Purpose HR.
Fast-growing accountancy and business advice company AAB said the deal, for an undisclosed sum, gave it “exciting” growth opportunities in the UK and internationally.
It comes hot on the heels of AAB’s takeover of Glasgow-based accountancy firm Hardie Caldwell, announced just a few weeks ago and part of ambitious growth plans which the group hopes will see it become a £50 million revenue business by 2025.
The enlarged company now has a combined headcount of more than 340 staff across its Aberdeen, Edinburgh, Glasgow and London offices, including 10 at Purpose HR, and an annual turnover in excess of £30 million.
Human resources-focused Purpose HR, founded in 2014, was among the first cohort of businesses on the Scottish Enterprise-backed Unlocking Ambition programme.
The firm will continue to operate under its own brand, unlike Hardie Caldwell, with founder Lisa Thomson – former Saltire “fellow” and Women’s Enterprise Scotland ambassador – running it as chief executive.
Growing central belt team
AAB chief executive Graeme Allan said: “Purpose HR being part of the AAB group enables us to continue to build our capabilities in the HR space and extend our payroll and HR offering to clients.
“We are delighted to welcome Purpose HR to the group and our growing team in the central belt, and look forward to exploring the ways in which we can enhance our service offering to existing and new clients across the UK and internationally.”
Ms Thomson, who remains a shareholder in Purpose HR, said: “We have known AAB for a number of years and already have several mutual clients.
“The deal has come together at a great time for us as we look to accelerate our next stage of growth.”
Recruitment plans
She added: “Despite the challenges of the last year, our client base has been actively growing and companies are increasingly recognising the value of investing in HR support and their people.
“By becoming an AAB group company we will have access to the wider group resources and infrastructure, enabling us to increase the range of services we can offer to clients and to expand our team – we will be hiring across Edinburgh, Aberdeen, Glasgow and London.”
Targeting new sectors
Purpose HR is currently focused on the technology and life science sectors. As part of AAB it will actively target further growth in the UK technology industry, but also broaden its offering into other key growth sectors – such as energy, food and drink and business services.
AAB was founded in 1990 by retired senior partner Mike Brown and two former Ernst & Young colleagues, Bobby Anderson and Sheena Anderson.
It now boasts 21 partners, and provides audit and accounting, tax, payroll and human resources, outsourcing and advisory services to clients operating throughout the world.
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