Accountancy deal

August Equity invests in Aberdeen-based AAB

David Lonsdale of August Equity

Private equity firm August Equity has invested in a Scottish accountancy and business services group seeking to expand its operations.

The deal will provide “significant” funds for Aberdeen-headquartered Anderson Anderson & Brown to build market share across the Central Belt and grow in the English market.

London-based August Equity principally operates in the healthcare, education, business services and technology sectors.

David Lonsdale, partner, said: “We look forward to working together to accelerate the growth of AAB.”

The Aberdeen practice currently employs about 350 in Scotland and also has a London office.

This year it has acquired Glasgow-based accountancy firm Hardie Caldwell and Edinburgh-based Purpose HR.

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