GRAND RAPIDS — Payroll software firm Dominion Systems Inc. has been acquired by a private equity-backed business services company in Scotland.
Dominion and AAB have partnered for the past five years, with Grand Rapids-based Dominion supporting AAB’s global payroll growth plans. Dominion will now operate as AAB Payroll Inc., effectively immediately, and will be led by Dominion President Chris Andree.
“It’s exciting to be a part of the AAB journey, particularly in regard to firmly establishing and growing payroll and advisory operations in the United States,” Andree said in a statement. “Having worked directly with the Payroll and Employment Taxes team over the past five years, I have witnessed the rapid expansion in both scope of service and geography first-hand which undoubtedly is underpinned by a people first culture and commitment to client service.”
Terms of the deal were undisclosed.
Dominion Systems offers fully integrated, cloud-based software with customizable payroll and human resources options. It supports a range of industries, including agriculture, car dealerships, health care and food and beverage.
Formerly known as Anderson Anderson & Brown and a provider of critical business services such as accounting, auditing and tax support through tech-enabled platforms, AAB has experienced rapid growth since securing an investment from London, U.K.-based August Equity in October 2021. Dominion was AAB’s seventh acquisition in the past 16 months.
The deal expands AAB’s reach and is the company’s first acquisition in the U.S., according to a report in Scottish newspaper Press and Journal, which notes AAB’s payroll and global mobility team has more than 100 employees at offices in the U.K., the U.S. and Ireland. AAB reportedly has annual revenue of about 65 million pounds, or about $77.6 million.
AAB Partner and U.S. Tax Practice Lead Douglas Michael said the company is “delighted” to bring on Dominion.
“We have seen an increasing number of businesses expanding to the U.S. over the last few years from the U.K. from start-ups to established businesses requiring our specialist support in U.S. payroll,” Michael said in a statement. “Remaining compliant with cross-border payroll has never been more complex and our enhanced team will be able to support any business or individual working in the US.”