AAB has acquired its current US payroll partner Dominion Systems, in a deal which includes its payroll software and team.
Based in Grand Rapids, Michigan, the firm has been a partner of the Scottish business services group for the last five years, supporting its global payroll expansion plans.
The newly-acquired business will begin trading as AAB Payroll with immediate effect and will be led by president Chris Andree, who has been with Dominion for 10 years, latterly running the firm’s payroll operations.
The global mobility and payroll team at AAB now employs more than 100 people in offices across the UK, Ireland and the US, with revenue projected to grow by more than 25% in 2023 following the transaction.
AAB has been on an acquisition spree since the firm secured investment from London-based August Equity in October 2021, with this being the seventh business to join the group in the past 16 months.
This latest deal complements the US global mobility tax practice launched by AAB last year, which provides individual and employment tax advisory and compliance support to clients with a US footprint.
Douglas Michael, partner and US tax practice lead, commented: “We have seen an increasing number of UK businesses expanding to the US over the last few years, from start-ups to established businesses requiring our specialist support in US payroll.
“Remaining compliant with cross-border payroll has never been more complex, and our enhanced team will be on hand to support any business or individual working in the US.”
Andree, the new president of AAB Payroll, added: “Having worked directly with the payroll and employment taxes team over the past five years, I have witnessed the rapid expansion in both scope of service and geography first-hand, which undoubtedly is underpinned by a people first culture and commitment to client service.”
AAB has offices in Edinburgh, Aberdeen and Glasgow - as well as across England and Ireland.
The group provides audit and accounting, tax, payroll and HR, outsourcing and advisory solutions across nearly every major country in Europe, North and South America, Asia, Africa and Australia.
It now has 750 staff, including more than 50 partners, with group turnover of around £65m.
The group comprises AAB Chartered accountants and advisers; Sagars Chartered accountants and advisers; FPM Chartered accountants advisors; AAB Wealth Chartered financial planners; AAB Consulting; HR firm AAB People; audit joint venture John F Daly Associates; fraud prevention firm SeeHearSpeakUp; and HR services firm Think People Consulting.
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