TL;DR: Two Cork-based accountancy firms, Old Quarter Chartered Accountants and O’Brien Crowley Chartered Accountants, have been acquired by the international firm AAB. This marks AAB’s continued expansion in Ireland, bolstered by its backing from Goldman Sachs Alternatives and aiming to solidify its presence in the professional services market.
In a significant move for the Irish professional services sector, AAB, an international firm originally founded in Scotland, has announced the acquisitions of two Cork-based accountancy firms: Old Quarter Chartered Accountants and O’Brien Crowley Chartered Accountants. This development not only signifies AAB’s seventh and eighth investments in Ireland since January 2025, but also enhances its operational scale, now employing nearly 300 individuals across Ireland and over 1,500 worldwide.
Old Quarter Chartered Accountants, established in 2022 in Ballincollig, provides comprehensive services such as auditing, taxation, business advisory, and payroll. With a workforce of 26 individuals, the firm assures clients that they will continue to engage with the same trusted team, as emphasized by partner Mark O’Keefe. O’Brien Crowley, on the other hand, boasts a longer history since its inception in 1985 and employs 13 people. Its range of services includes financial reporting and payroll, with partner Killian O’Brien expressing optimism about the benefits of joining AAB’s larger platform, particularly in accessing advanced technological capabilities.
Both firms are set to relocate to AAB’s new 23,000 sq-ft office space at Barrack Square, Ballincollig, in what appears to be a promising merger of local charm and international reach. Colm Duggan, AAB’s head of professional services in Ireland, reflected on the significance of these acquisitions, stating that they represent an ongoing commitment to growth while enhancing the quality and depth of client relations.
While such developments might provoke excitement in the professional services realm, it’s essential to remain critical about the implications for local talent and client relationships. Will the integration into a larger entity dilute the personal touch that many small firms pride themselves on? One can only hope that the benefits promised by an international platform come without the loss of the community-focused approach that defines many businesses in Cork.
Interestingly, mergers and acquisitions are a common trend in the accountancy sector globally, with firms often looking to combine resources to navigate the increasingly competitive landscape. In fact, according to a recent report, the global accounting services industry is expected to see significant growth in the coming years, reflecting the industry’s resilience even in uncertain economic times.
As AAB sets its sights on further expansion, the local professional services community will be watching closely to see if this is merely a case of big fish swallowing smaller ones—or if it can successfully balance scale with the local expertise that has long been a hallmark of Cork’s accountancy scene. For now, both Old Quarter and O’Brien Crowley will have to adapt quickly to their new identity under the AAB banner, a task that comes with its own set of challenges and opportunities.
For more details, visit Irish Examiner.
