Graeme Allan, CEO of AAB and Graeme Finnie

French Duncan, one of Scotland’s oldest accountancy firms, has been acquired by AAB for an undisclosed sum.

It is the eighth and largest deal for AAB since it secured investment from August Equity in October 2021. It doubles the size of the AAB restructuring & recovery team across the UK & Ireland and introduces more than 50 leisure & hospitality finance specialists to the group. 

AAB Group now has a payroll of about 1,000 across the UK, Ireland and internationally and a turnover of £80 million.

French Duncan was established in 1902. It operates from Edinburgh, Glasgow and Stirling, serving clients across the UK and internationally, with 15 partners and more than 220 staff.

It is part of the international HLB advisory and accounting network of firms. Latest accounts show a turnover of £11.3m.

French Duncan Wealth Management and FD Intelligence do not form part of the purchase

Graeme Finnie, managing partner at French Duncan, will take on the role of managing partner – Glasgow for the wider group. He said: “This deal is a superb next step for the French Duncan team.”