AN Aberdeen-base chartered accountants and business advisors has declared it will not be held back by Brexit as it announced plans to create 100 new jobs as it landed a £4 million boost.
Anderson Anderson & Brown secured the funding package from Barclays to support the firm as it seeks to expand its Central Belt and wider national and international footprint.
It will use the funds to grow its Aberdeen, Edinburgh and London offices, where it plans to create the jobs to bring its workforce to a total of 380 over the next three years, as well as continuing to expand into key markets across the globe.
It aims to double group revenue to £40m by capitalising on opportunities to expand its client base in fast growing areas such as global payroll and mobility alongside growth aspirations in the upstream Oil and Gas, food and drink, technology and public sectors.
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Since launching its Edinburgh office earlier this year, the firm has seen significant growth, both in terms of new client wins with revenue forecast to be in excess of £1.5m by March, and in recruitment with 30 new people joining the team, including nine key senior appointments.
The deal team was led by Angela Yule, relationship director, Barclays corporate banking, Scotland, who said: "AAB is a great example of the kind of innovative, ambitious and forward-thinking business that we’re committed to supporting across Scotland.
"We’re excited to be supporting them on their growth journey."
Graeme Allan, managing partner at AAB, said: "It’s an extremely exciting time for the business and Barclays’ significant experience in the professional service sector will play a vital role in helping us achieve our ambitious growth plans.
"In addition, Barclays’ national and international presence, and its proactive and collaborative approach, means that we are confident that the innovative and tailored funding support solutions they are providing will allow AAB to continue to expand across Scotland and internationally."
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Douglas Martin, partner and head of corporate finance at AAB, said: "The wider Central Belt is a big growth area for us in terms of what we have looked to do in terms of the development in the last six months.
"Achieving the revenue and head count we have in Edinburgh is pivotal also we certainly see quite a significant proportion of the jobs figures quoted being in Edinburgh in terms of going forward.
"Also that allows us to expand our activity in the sectors quoted in terms of technology, food and drink and the public sector, and Edinburgh is key for developing those sectors."
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He added: "Brexit is very sector specific and we are a fairly broad business covering a wide range of sectors so certainly specific companies in leisure, hospitality, manufacturing, food and drink and seafood have all got their own challenges within Brexit, but amongst all the uncertainty we see the market opportunity in terms of developing the business in Scotland and that is what we are very focused on doing.
"We're not prepared to hold back in terms of the growth plans from a Brexit perspective."
Andy Hall, head of corporate banking, central Scotland at Barclays, said: "We worked hard to create a tailored and competitive package which, coupled with our expertise in the professional services sector, means that we can support AAB as it looks to consolidate and grow its business in the UK and internationally."
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