The deal expands AAB’s reach across the investment, real estate and private capital markets.

Together, the combined business will advise on property assets from £50,000 to those in excess of £5 billion.

The addition of Wales-based Veritas Advisory positions AAB among the leading providers of capital allowances and property tax advisory services.

Combined with AAB’s wider tax and professional services capabilities, the company said the acquisition creates a platform capable of supporting clients throughout the entire investment lifecycle.

AAB has offices in Aberdeen, Glasgow, Edinburgh and Stirling and following completion of the acquisition, it will employ more than 1,900 people, operating from 25 locations across the UK, Ireland and internationally.

Mark Lappin, Head of Tax at AAB, said: “This is a strategically important acquisition for AAB and another clear demonstration of our ambition.

“We are building a business with genuine scale, deep specialist expertise and the ability to deliver exceptional outcomes for clients operating in increasingly complex markets. This acquisition is another powerful statement of intent about where AAB is heading and the type of business we are becoming.”

Clive Curd, founder and director of Veritas Advisory said: “We have built our business by becoming trusted advisers to some of the most active investors, corporates and professional firms in the market. The ambition within AAB is clear. The business is building something genuinely different in the professional services market, and we’re excited to be part of that journey.”