Anderson Anderson and amp; Brown (AAB), UK’s leading chartered accountants and business advisory firm, recently acquired Purpose HR.
Based out of Edinburg, Purpose HR is human resources support business for early-stage firms.
The deal amount is kept undisclosed.
This is another acquisition for AAB following the purchase of Glasgow-based accountants Hardie Caldwell.
On the acquisition, AAB commented that the HR firm was a strategic deal for the company, as it complemented its operations in virtual finance and payroll.
Impact of the acquisition
The acquisition is a win-win deal and will also fast-track Purpose HR’s growth objectives, as the business will continue to operate under the Purpose HR brand. Additionally, the company will function under Lisa Thomson as CEO and shareholder.
The client base of Purpose HR is currently focused on the tech and life sciences sectors, and the clientele includes Blackford Analysis, Cyan Forensics, Topolytics, and Modulr Finance.
With the recent acquisition, both AAB and Purpose HR will actively aim for growth in the technology sector across the UK. On the expansion front, AAB has plans to add to Purpose HR’s portfolio primary growth sectors such as energy, business services, and food and beverages.
Moving ahead on the expansion mode, Purpose HR plans to increase its headcount by immediately posting the deal with a sizeable recruitment campaign.
At present, AAB group has a combined workforce of over 340 employees across its Edinburgh, Aberdeen, Glasgow, and London offices – 10 of those at Purpose HR – and a turnover of more than LBS 30 million.
What experts’ say?
Thomson mentioned, “We have known AAB for a number of years and already have several mutual clients.”
Thomson added, “The deal has come together at a great time for us as we look to accelerate our next stage of growth. It has been an exciting journey for the team and I to grow Purpose HR to this stage and having the chance to support so many amazing and innovative clients.”
Thomson added, “Despite the challenges of the last year, our client base has been actively growing, and companies are increasingly recognizing the value of investing in HR support and their people.”
Thomson continued, “By becoming an AAB group company, we will have access to the wider group resources and infrastructure, enabling us to increase the range of services we can offer to clients and to expand our team – we will be hiring across Edinburgh, Aberdeen, Glasgow and London.”
Graeme Allan, Chief Executive at AAB, commented: “We are delighted to welcome Purpose HR to the group and our growing team in the Central Belt.”