AAB APPOINTS ELONA MORTIMER-ZHIKA AS GOLDMAN SACHS COMPLETES TAKEOVER
AAB has strengthened its leadership bench and entered a new chapter of expansion after regulators approved the firm’s acquisition by Goldman Sachs Alternatives, enabling the professional services group to push ahead with its next phase of growth. The deal – which completes AAB’s transition from previous backer August Equity – comes as the group reports annual revenue of more than £125 million, triple the size it posted three years ago.
Alongside the change in ownership, AAB has appointed Elona Mortimer-Zhika, the former Chief Executive of IRIS Software Group, as its new Senior Non-Executive Director. Her arrival brings heavyweight operational and digital transformation experience to a board preparing for accelerated investment in technology, AI and automation.
A Strategic Appointment for a Firm on the Rise
Mortimer-Zhika, one of the UK’s most experienced technology-sector leaders, previously oversaw a major expansion programme at IRIS, turning the company into a cloud-first, internationally scaled SaaS group. “We are delighted to welcome Elona to our Board,” said Emma Lancaster, Chief Executive at AAB. “Her proven leadership, deep understanding of scaling high-growth businesses in our industry, and commitment to innovation will be invaluable as we continue to deliver on our strategic ambitions.”
Her appointment reflects AAB’s intention to combine professional services depth with digital capability at a time when mid-market clients are demanding greater automation, real-time insight and integrated advisory support.
Mortimer-Zhika said she was pleased to join during a defining moment for the group. “I am excited to join AAB at such a pivotal time in its journey. The company’s vision and focus on delivering exceptional client service strongly align with my own passion for building resilient, high-performing organisations.”
A fellow of the Institute of Chartered Accountants in England and Wales, she brings a background that spans finance, operations and private-equity backed growth environments – experience that will now support AAB’s governance, oversight and long-term strategy.
Goldman Sachs Backs Further Expansion
AAB’s new majority investor, Goldman Sachs Alternatives, said the firm is well-positioned to become one of the UK and Ireland’s dominant mid-market professional services groups. Jose Barreto, Partner within Private Equity at Goldman Sachs Alternatives, commented: “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. We’re delighted that the deal has now concluded and look forward to leveraging our experience to support AAB through this hugely exciting stage in its evolution.”
He added: “We are very pleased to see Elona join the AAB Board. Her proven ability to lead and scale complex, high-growth organisations will provide valuable strategic insight as AAB continues its impressive expansion.”
The transaction is expected to accelerate investment into proprietary technologies, automation tools and AI-based solutions aimed at improving advisory efficiency and strengthening client experience.
Advisers to the Deal
AAB and August Equity were advised by William Blair and Alantra (corporate finance), OC&C (commercial), PwC (financial and tax) and Addleshaw Goddard (legal). Goldman Sachs Alternatives received advice from Houlihan Lokey and Rothschild (M&A), Linklaters (legal), EY Parthenon (commercial) and EY (financial and tax).
