AAB in record num­ber of deals

The Press and Journal (Highlands & Islands) - - Business - BY KEITH FIND­LAY

Ac­coun­tancy firm An­der­son An­der­son and Brown ( AAB) has notched up a half cen­tury of deals in the merg­ers and ac­qui­si­tions (M&A) mar­ket for a third con­sec­u­tive year.

The Aberdeen-based prac­tice said yes­ter­day 70% of the trans­ac­tions it suc­cess­fully tied up in 2016 were out­side of the be­lea­guered oil and gas in­dus­try, re­flect­ing cur­rent eco­nomic con­di­tions in the north-east.

Deals in­cluded the dis­posal sale of El­lon based Sengs Sub­sea En­gi­neer­ing So­lu­tions to Pry me Group, of Dundee, and the ac­qui­si­tion of Liv­ingston elec­tron­ics firm Op­to­cap Hold­ings by Ger­many’s TUV Nord Group. AAB’s cor­po­rate fi­nance team

“We are see­ing en­cour­ag­ing signs in oil and gas”

was also lead ad­viser to ma­jor­ity share­hold­ers of Aberdeen firm Mar­itime As­sur­ance and Con­sult­ing in their sale to Bureau Ver­i­tas.

Douglas Martin, head of cor­po­rate fi­nance, AAB, said: “We are de­lighted to have com­pleted 50 deals in each of the last three years, es­pe­cially given the chal­leng­ing oil and gas mar­ket con­di­tions af­fect­ing M&A ac­tiv­ity in 2016.

“How­ever, we con­tinue to de­liver strong deal flow and are pleased to have been in­volved in a record num­ber of non-oil and gas deals dur­ing 2016.”

He added: “We are see­ing some en­cour­ag­ing signs in oil and gas.”

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