Cork's O'Connor Pyne is acquired by AAB

Addition brings AAB's revenues in Ireland to €20m

Connor Pyne, Partner, O'Connor Pyne, Emma Lancaster, Chief Executive of AAB, Oriel Lawton, Partner, O'Connor Pyne and Tomás O'Connor, partner, O'Connor Pyne.

Cork accountancy and taxation firm O'Connor Pyne has been acquired by the UK professional services firm AAB as it continues its expansion across Ireland with plans for a significant presence across Munster.

Based in Ballincollig, O'Connor Pyne employs 65 people, led by senior partners Conor Pyne, Tomas O’Connor and Oriel Lawton. Its acquisition will boost AAB’s business in Ireland to €20m, employing more than 200 people.

Last January, AAB agreed a deal with Dublin practice Ormsby & Rhodes, which helped the group achieve €120m in annual revenues across the UK and Ireland. The addition of O’Connor Pyne will boost AAB’s business in Ireland to €20m, with the company employing more than 200 people here.

As part of its expansion in the Munster region, it is intended that AAB’s office will be a flagship building located in the Ballincollig area with the firm investing in regional capability, talent and client service.

It is understood that AAB has held discussions with other Cork firms as it seeks to consolidate its position in the region. The sector is undergoing extensive consolidation with a number of mergers and acquisitions taking place in recent months. Last July, AAB was acquired by Goldman Sachs Alternatives from August Equity.

Founded more than 20 years ago, O’Connor Pyne & Co provides a broad range of professional services to clients across Ireland. It also has strong links with Munster Technological University, with graduates forming a core part of its well–established graduate programme. AAB said it plans to scale its Munster operations significantly over the coming two years through a combination of organic growth and selective acquisitions.

“Bringing O’Connor Pyne into AAB is an important milestone in the continued development of our business in Ireland," Emma Lancaster, Chief Executive of AAB, said. "O’Connor Pyne is a highly respected firm with a strong client focus and a culture that closely aligns with our own. This investment allows us to build scale in Munster while broadening the services and specialist expertise available to clients in the region.” 

Tomás O’Connor, Founding Partner of O’Connor Pyne & Co, said: “This is a very positive step for our clients and our people. Joining AAB gives us access to a broader range of expertise, technology and investment while allowing us to continue delivering the close, partner-led service that has defined O’Connor Pyne for more than two decades. We see this as a platform for long-term growth in Munster and beyond.”