South East accountancy firm Kreston Reeves and professional services firm AAB have announced plans to combine their businesses in a deal that would take the enlarged group’s annual revenue beyond £200 million.
The firms said the transaction reflects ongoing changes and competition within the accounting sector. Under the agreement, Kreston Reeves would become AAB’s hub in London and the South East, expanding AAB’s presence in the region.
Richard Spofforth, managing partner at 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.
“For our clients, it will provide them with access to broader specialist expertise together with greater geographic reach.
“Most importantly, AAB shares the same values as Kreston Reeves, giving us a combined platform for sustainable long-term growth.”
Emma Lancaster, chief executive at AAB, added: “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 £200 million revenue is not about growth for growth’s sake – it’s about building a resilient, sustainable business that delivers long-term value for our clients, our people and our communities.
“This is our third deal since our investment deal with Goldman Sachs Alternatives was completed two months ago, and we are hugely excited about the future opportunities ahead as we continue to scale by combining businesses that share our dedication to putting clients at the heart of everything we do.”
AAB’s strategic expansion plan is set to continue with further investment opportunities already under discussion to strengthen its regional and national footprint.
In combining with Kreston Reeves, AAB will employ over 1,800 people across 23 locations in the UK and Ireland.
The deal is subject to regulatory approval and is expected to close in spring 2026.
Kreston Reeves was advised by Rothschild & Co and Shoosmiths.
