Mon, 09 Feb 2026 | BUSINESS SALE
Accountancy and advisory firm Kreston Reeves has joined AAB in a deal that creates a combined group with revenues of more than £200 million, 23 locations across the UK and Ireland and a staff headcount of over 1,800.
The transaction follows a series of 18 deals completed by Goldman Sachs-backed professional services giant AAB over the past four years. The deal is subject to regulatory approval and is expected to close in spring 2026.
Kreston Reeves employs more than 550 staff across offices in London, Kent and Sussex. In accounts for the year to May 31 2025, the company reported turnover of approximately £53.1 million, up from £49.3 million a year earlier, while operating profits rose from £12.9 million to £13.2 million.
Joining AAB was described as “a significant milestone for our business, people and clients” by Kreston Reeves Managing Partner Richard Spofforth.
Spofforth continued: "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."
AAB Chief Executive Emma Lancaster described the transaction as “a clear demonstration of our ambition to become the leading professional services firm serving the mid-market.”
She continued: "Growing the group beyond £200m 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.”
Lancaster said that the deal was the third AAB had completed since an investment deal with Goldman Sachs Alternatives was completed just two months ago, adding that the firm was targeting further opportunities “as we continue to scale by combining businesses who share our dedication to putting clients at the heart of everything we do."
Jose Barreto, partner, and Mihir Lal, managing director for private equity at Goldman Sachs Alternatives, said that the deal “accelerates our vision for a national presence across the UK and Ireland, delivering essential scale in the South-East of England.”
Barreto and Lal added: "The deep cultural alignment between AAB and Kreston Reeves will strengthen the collective offering for both customers and employees."
While M&A activity in the professional services sector continues, the collapse of a recent sale process has led to suggestions that investor confidence is waning
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