Goldman Sachs Alternatives has sealed a deal to take over ownership of professional services firm AAB from August Equity.
The transaction is pending regulatory clearance, with completion anticipated later in 2025.
AAB offers expertise in accounting, taxation, auditing, corporate finance, human resources, payroll, as well as wealth advisory.
By January 2025, AAB achieved £100m ($135m) in annual revenue, growing threefold in three years.
Under August Equity’s guidance since 2021, AAB is said to have acquired 16 businesses, extended its presence across the UK and Ireland, and increased its workforce size to more than 1,000.
AAB said it is well-equipped for future progress with a “diversified” range of services as August Equity steps back.
The firm further highlighted that the investment from Goldman Sachs will speed up its growth trajectory, boosting its capabilities in technology, AI, and automation.
AAB and August were advised by William Blair and Alantra for corporate finance, OC&C for commercial, PwC for financial and tax, and Addleshaw Goddard for legal.
Goldman Sachs was advised by Houlihan Lokey for M&A, Linklaters for legal, EY Parthenon for commercial, and EY for financial and tax on the transaction.
AAB CEO Emma Lancaster said: “Our partnership with August Equity has been transformational. Their investment and strategic support enabled us to accelerate our growth journey, invest in talent and technology, and expand the range of services we offer to clients.
“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 agrees to acquire AAB” was originally created and published by International Accounting Bulletin, a GlobalData owned brand.
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