AAB in record number of deals
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.”