Anderson Anderson & Brown secures £4m from Barclays for expansion
Anderson Anderson & Brown (AAB) has secured a £4 million funding package from Barclays to support the firm as it seeks to expand its national and international footprint.
AAB will use the funds to grow its Aberdeen, Edinburgh and London offices, where it plans to create over 100 jobs over the next three years, as well expanding into key markets across the globe.
It aims to double group revenue to £40 million by capitalising on opportunities to expand its client base in fast growing areas such as global payroll and mobility alongside growth aspirations in the upstream Oil & Gas (E&P), food and drink, technology and public sectors.
AAB, which currently has around 280 staff, launched its Edinburgh office this summer amid a period of growth, with revenue forecast to be in excess of £1.5 million by March.
The Barclays team working on the funding deal was led by Angela Yule, relationship director for Barclays corporate banking in Scotland.
Graeme Allan, managing partner at AAB, said: “It’s an extremely exciting time for the business and Barclays’ significant experience in the professional service sector will play a vital role in helping us achieve our ambitious growth plans.
“In addition, Barclays’ national and international presence, and its proactive and collaborative approach, means that we are confident that the innovative and tailored funding support solutions they are providing will allow AAB to continue to expand across Scotland and internationally.”
Andy Hall, head of corporate banking for Central Scotland at Barclays, said: “We worked hard to create a tailored and competitive package which, coupled with our expertise in the professional services sector, means that we can support AAB as it looks to consolidate and grow its business in the UK and internationally.”
Ms Yule added: “AAB is a great example of the kind of innovative, ambitious and forward-thinking business that we’re committed to supporting across Scotland. We’re excited to be supporting them on their growth journey.”