UK-based accountancy firm AAB has agreed a merger deal with Ormsby & Rhodes, one of the country's oldest accountancy firms.
The deal is set to strengthen August Equity-backed AAB's international presence and access to the European market.
AAB said the deal will propel it past the €120m revenue mark.
Ormsby & Rhodes, founded in 1911, provides audit, accounting, tax, payroll, company secretarial and business advisory support to a wide range of clients in Ireland.
After the deal with AAB, the business said it will continue trading as Ormsby & Rhodes and all 10 partners remain committed to driving the business forward which provides client continuity.
Since securing investment from August Equity in 2021, AAB has trebled in size and now employs more than 1,000 people.
It has made a number of acquisitions since to create a mid-market group with operations in Britain, the US, Northern Ireland and now the Republic of Ireland. It invested in FPM in Northern Ireland in 2022.
David Marsh, Managing Partner at Ormsby & Rhodes, said that as trusted advisors to a wide range of clients and businesses, this investment from AAB will open up new opportunities for clients to prosper and for the team to thrive professionally.
"Our clients will benefit from an expanded pool of expertise, enabling us to provide even more comprehensive and tailored advice, no matter how complex the requirements," he said.
Emma Lancaster, CEO at AAB, said this strategic move follows on from its first successful investment in Ireland in 2022 and will bolster the company's international reach through growth opportunities across Europe.
"Our commitment remains focused on delivering the highest quality of service for our clients while fostering lasting partnerships built on trust enabling our clients to succeed," she added.
