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UK-based accountancy AAB has agreed a merger deal with Ormsby and Rhodes, the longest-established firm in the Republic of Ireland, in a bid to strengthen its international presence and access to the European market.
According to AAB, the deal propels the company past the €120m (£101.4m) revenue mark.
Ormsby and Rhodes was established in 1911 and is consistently ranked in the top 20 firms in the Republic of Ireland.
Ormsby and Rhodes is a €7m+ (£5.92m) revenue business which provides audit, accounting, tax, payroll, company secretarial and business advisory support to a wide range of clients in Ireland.
The deal will introduce a suite of new services including ESG reporting frameworks and sustainability strategies.
The business will continue trading as Ormsby and Rhodes and all 10 partners “remain committed” to driving the business forward.
Meanwhile, since securing investment from August Equity in 2021, AAB has tripled in size and now employs more than 1,000 people. The group stated that the rapid growth journey is set to “continue as part of delivering its ambitious growth strategy for 2030”.
Emma Lancaster, CEO at AAB, said: “This strategic move follows on from our first successful investment in Ireland in 2022 and will bolster our 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.”
David Marsh, managing partner at Ormsby and Rhodes, added: “As trusted advisors to a wide range of clients and businesses, this investment from AAB will open up new opportunities for our clients to prosper and for our 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. We look forward to building on our success while maintaining the trusted client relationships that have always been at the heart of our business.”
