AAB, the UK professional services firm backed by Goldman Sachs Alternatives, has agreed a business combination with Kreston Reeves to create an accountancy group with annual revenue exceeding £200 million (€231 million). The combined entity will employ more than 1,800 people across 23 locations in the UK and Ireland.

International Accounting Bulletin reported that Kreston Reeves operates seven offices across London, Kent, and Sussex, employing around 550 people.

Emma Lancaster, chief executive of AAB, said: "This is a major milestone for AAB and a clear demonstration of our ambition to become the leading professional services firm serving the mid-market. Growing the group beyond £200m revenue is not about growth for growth's sake – it is about building a resilient, sustainable business that delivers long-term value for our clients, our people and our communities."

AAB has completed 18 transactions across the UK and Ireland over the past four years, with its mid-market focus driving ongoing consolidation activity in the sector. The agreement reflects rising competitive pressures and the need for scale in professional services delivery.

The transaction will enable Kreston Reeves to invest further in staff, technology, and service delivery tools. For AAB, the deal extends its footprint in London and the South East, with Kreston Reeves positioned to act as its regional hub.

Richard Spofforth, managing partner of Kreston Reeves, said: "This is a significant milestone for our business, people and clients. Building on the strengths we have at Kreston Reeves, it will create new opportunities for our talented colleagues."

The transaction is subject to regulatory approval and is expected to close in spring 2026.

Read the full details on how AAB's strategic combination with Kreston Reeves is reshaping mid-market professional services across the UK.