MEMBER NEWS: AAB announces significant investment from August Equity to fast-track growth plans

October 26, 2021
MEMBER NEWS: AAB announces significant investment from August Equity to fast-track growth plans

Anderson Anderson & Brown (AAB), the tech-enabled business critical services group, has announced a significant investment from August Equity to fast-track ambitious growth plans and realise AAB’s strategic vision of becoming a key UK regional player in the accountancy and wider business services market.

AAB is currently a leading Scottish regional player, with offices in Aberdeen, Edinburgh and Glasgow, and plans to build its market share across the Central Belt of Scotland alongside growing the number of regional hubs it operates from in key major cities across the UK. AAB also has a London office focussed on payroll, global mobility and virtual finance which supports some of the group’s largest UK and international clients.

August’s investment in AAB shall facilitate considerable investment in people, both existing and those who recognise the exciting opportunities being created across the group. In addition, it will allow AAB to invest further in tech following the doubling of spend in this area during 2021. It shall also provide significant firepower for AAB to pursue merger and acquisition (M&A) opportunities across the UK. The partnership with August will enable AAB to continue to build on the momentum already created this year following the merger with Glasgow-based accountancy firm Hardie Caldwell, and acquisition of Edinburgh-based Purpose HR.

Graeme Allan, Chief Executive at AAB, said, “We are enjoying a fantastic period of growth but see so many opportunities to invest more heavily to fast-track this. August Equity’s investment will be instrumental in helping us build a high-quality regional business services group across the UK. They are also a great cultural fit and are as excited about our partnership and the future as we are.

“As we grow, we will remain committed to investing and developing our people and of course clients will benefit as we expand our portfolio of tech-enabled services for the SME and enterprise markets. We shall work closely with August as we actively seek M&A opportunities with a particular focus on partnering with firms who adopt a similar ethos to us driven by a passion for helping people, staff and clients alike, achieve their goals. This model will establish a wide equity ownership whilst maintaining the opportunity for real partner progression for the future leadership of the group.”

David Lonsdale, Partner at August Equity, added, “We are delighted to be investing in AAB and we are excited to be working with Graeme and the team. We look forward to working together to accelerate the growth of AAB and build a leading tech-enabled, business critical services group which is highly differentiated in the market.”

AAB’s team of over 350 provide a highly complementary portfolio of business services including audit, accounting, tax, payroll, HR, consulting, wealth and corporate finance. The group supports a wide range of SME and enterprise clients, with a strong exposure to the energy, technology, business services, public and not-for-profit, food and drink and property and construction sectors.

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AREG is the original energy transition organisation, working on behalf of members to empower the energy supply chain and champion its expertise. Please get in touch if you have any questions or would like to find out more about membership.

AREG has played an important role in the growth of Scotland’s renewable energy sector, engaging the supply chain and developing the European Offshore Wind Deployment Centre. However, we are only at the very beginning of the transition that AREG was established to both lead and support so there are still opportunities for companies to get into the constantly evolving renewables supply chain. We look forward to continuing our work together as renewables builds on its place as Scotland’s main source of power, and as we seek to deliver real change in the crucial areas of heat and transport.

Scottish Renewables

Aberdeen & Grampian Chamber of Commerce has worked closely with AREG since its formation. The recent progress in the developments of offshore wind projects by Equinor and Vattenfall are as a result of the work of the group over many years. The north-east is known as the oil and gas capital of Europe. At the Chamber, we believe the region must evolve its position to being recognised as the energy capital. Whilst hydrocarbons will continue to be essential in driving our economy for years to come, the generation of renewable resources will play an increasingly important role in providing cost-effective power, innovative development and economic growth.

Aberdeen & Grampian Chamber of Commerce

The enthusiasm and dedication of the early group that would become AREG was fundamental in us choosing to launch All-Energy in Aberdeen. The first tiny show was held in 2001, and AREG’s Chairman at the time, Jeremy Cresswell, played such an active role that I often describe him in terms such as All-Energy’s ‘midwife’. All-Energy is now the UK’s largest renewable and low carbon energy exhibition and conference in terms of number of attendees, space booked, and number of exhibiting companies. As AREG became firmly established, their presence and support for the event grew spectacularly over the years. We thank them most sincerely for their invaluable input.


Vattenfall has forged a strong working relationship with AREG through the development of the European Offshore Wind Deployment Centre. AREG has worked tirelessly on behalf of the North East and it can take enormous credit for the growth of sustainable energy in the region and the path it has cleared for the region to capture further investment.


Aberdeen City and Shire is emerging as a key location for renewables by successfully transferring its world-class oil and gas expertise into the sector and AREG has done much to advance this through a broad range of initiatives. It has acted as a catalyst in driving further investment in the local economy by engaging with companies, Government, public bodies and existing projects and we have been pleased to support their efforts. Scottish Enterprise will continue to engage with AREG as we increase Scotland’s use of renewable energy.

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