By Ian McConnell
SCOTTISH accountancy firm AAB has unveiled a “key acquisition” to expand its research and development tax credit services offering across the UK and Ireland.
It has acquired English professional services firm May Figures Ltd, which was established in 2013 by Julia May and Mark Graves, for an undisclosed sum.
The deal is the latest in a series of acquisitions and mergers as AAB has expanded rapidly.
AAB said: “May Figures has grown across the UK, building a successful track record delivering over 3,500 successful R&D tax credit claims.”
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The Scottish firm noted that, following investment from August Equity 12 months ago, it had been “building strong regional hubs across the UK and Ireland, with businesses who share the values and culture of the AAB Group”.
AAB Group employs more than 650 people across 10 locations in the UK and Ireland.
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Derek Gemmell, partner and head of innovations tax at AAB, said: “The group has grown rapidly this year, and with that growth we have seen an increasing number of our clients seeking support and specialist advice in R&D tax credits. I know our team will look forward to getting to know everyone at May Figures and welcome them as part of our expanded R&D team here at AAB.”
Neil Dinnes, partner and head of corporate and international tax at AAB, said: “We are delighted to welcome the fantastic May Figures team to the AAB Group. This acquisition will strengthen our overall tax proposition by bringing specialist advice and advisory services to our clients across the UK, Ireland and internationally.”
Ms May said: “Joining AAB Group is a perfect fit for us as we have shared values in a number of key areas.”
May Figures Ltd, which will become an AAB Group company with immediate effect, will continue to trade under its current name.
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