Goldman Sachs Alternatives takes stake in AAB as firm targets next growth phase
Goldman Sachs Alternatives has agreed to acquire leading UK professional services firm AAB from August Equity, in a transaction that underscores growing private equity appetite for scaled, tech-enabled advisory platforms.
The deal, which is subject to regulatory approvals, will see Goldman Sachs take over a £100m revenue business that has tripled in size in just three years under August Equity’s ownership. Since 2021, AAB has completed 16 strategic acquisitions and expanded across the UK and Ireland, growing its headcount to over 1,000.
Emma Lancaster, Chief Executive of AAB, praised August Equity’s support as “transformational,” adding, “As we welcome our new private equity partner, Goldman Sachs Alternatives, we remain focused on delivering long-term value to our clients and our team while accelerating our growth strategy with exceptional backing.”
Goldman Sachs Alternatives Partner Jose Barreto said, “As a Top 25 Accounting firm in the UK, we see AAB going from strength to strength and fast becoming a leading provider of professional services to the UK and Irish mid-market.” Mihir Lal, Managing Director at Goldman Sachs Alternatives, added that the team has “strong conviction” in supporting AAB through growth, technology enablement, and continued M&A.
The deal also marks a successful exit for August Equity. “Together, we have delivered a strong and sustainable growth strategy that has positioned AAB as a major force in the UK’s professional services market,” said August Partner Kishan Chotai.
The transaction is expected to accelerate AAB’s investment in AI, automation, and technology, bolstering its position as a trusted advisor to mid-market clients across key markets.
The parties were advised by William Blair, Alantra, OC&C, PwC, Addleshaw Goddard, Houlihan Lokey, Linklaters, and EY.
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