AAB strengthens Irish platform with investments in FM Accountants and LSMQ

AAB has further expanded its Irish footprint with strategic investments in FM Accountants and LSMQ, two established and fast-growing accountancy firms based in Dublin and in Carlow respectively.

The transactions form part of AAB’s continued build-out of its professional-services platform in Ireland following its investment in Ormsby & Rhodes and Ryan & Crowley in 2025. Both Ormsby & Rhodes and Ryan & Crowley rebrand as AAB on Monday 2^nd March. More recently, AAB invested in the Cork-based firm O’Connor Pyne.

The latest deals bring AAB’s annual revenue in Ireland to more than €25m and its headcount to over 250. AAB, which is backed by Goldman Sachs Alternatives, employs more than 1,800 people worldwide across 23 locations.

Colm Duggan, formerly a partner in Ormsby & Rhodes and now Head of Professional Services at AAB in Ireland, said:

“These investments reflect our ambition to build a genuinely partner-led, full-service professional advisory firm in Ireland. FM Accountants and LSMQ are high-quality practices with strong leadership teams and complementary expertise. Our focus is on supporting ambitious firms to scale, broaden their service offering and create long-term value for their clients and their people.

“There is significant opportunity in the Irish market for firms that want to retain their identity and leadership while benefiting from shared infrastructure, investment and international reach. Our approach is collaborative and long-term, and we are continuing to engage with like-minded practices across the country.”

Founded by Padraic Lalor and John O’Shea in 2003 LSMQ was the first Irish accountancy firm in Ireland to offer online accounting to its clients and has built a strong reputation in audit, tax and technology-enabled advisory services. The firm has 35 employees, including four partners: John O’Shea, Padraic Lalor, Nuala Kenny and Gareth Keogh.

FM Accountants, founded over 20 years ago by Cormac Mohan, a former senior executive with Microsoft and Coca-Cola and a past President of CPA Ireland, employs 16 people. The firm has particular strength in inward investment, business advisory and corporate restructuring through Fitzwilliam Corporate Services.

Separately, Garrett McCarthy and his team at Hugh McCarthy & Associates in Dublin are also joining AAB. Garrett McCarthy, as well as the partners in LSMQ and FM Accountants, will each become partners in AAB.

Cormac Mohan of FM Accountants said:

“We were clear that any next step for our firm had to protect our culture and our client relationships while giving us greater scale and depth. AAB offers exactly that combination, local leadership, broader capability and the backing to invest for growth.”

John O’Shea of LSMQ said:

“Our priority has always been to deliver high-quality, forward-thinking services to our clients. Joining AAB allows us to maintain that focus while gaining the benefits of shared knowledge, specialisms and experiences.”