Professional services firm AAB has acquired Veritas Advisory, a UK-based capital allowances advisory company.
Financial terms of the deal were not disclosed.
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Veritas Advisory provides tax advice on real estate transactions, development projects and investment portfolios.
In a statement, AAB said the deal is a “significant step forward” supporting its ambition to become “the UK’s leading adviser to ambitious businesses, investors and entrepreneurial organisations”.
The combined business will provide advisory services on property assets valued from £50,000 ($66,788) to more than £5bn ($6.68bn).
AAB Tax head Mark Lappin said: “This is a strategically important acquisition for AAB and another clear demonstration of our ambition.
“We are building a business with genuine scale, deep specialist expertise and the ability to deliver exceptional outcomes for clients operating in increasingly complex markets.
“The team at Veritas Advisory is widely recognised as one of the leading capital allowances specialists. Their track record, reputation and technical expertise speak for themselves. Bringing them into AAB immediately enhances our position within the real estate, investment and private capital sectors and gives our clients access to even greater depth of expertise.”
Veritas Advisory founder and director Clive Curd said: “Joining AAB provides the platform, scale and investment to accelerate our growth while preserving the specialist expertise and client focus that underpin our success and the opportunity to further develop our AI technology to better serve our clients and the broader real estate market.”
The transaction also increases AAB’s presence in London. Following completion, AAB will employ more than 1,900 people across 25 locations in the UK, Ireland, and other international markets.
AAB is backed by Goldman Sachs Alternatives.
Last month, the firm appointed Simon Bachelor to lead its hotel accounting division.
