August Equity has recruited David Lonsdale to its investment team from Rupert Murdoch-owned broadcasting company British Sky Broadcasting, where he worked in the corporate finance division.
Lonsdale worked on the acquisition of a 17.9 percent stake in ITV and the acquisition of You Me TV.
Before working at BSkyB, Lonsdale worked for ITV as a business development manager, and for big four accountant KMPG’s corporate finance group focussed on private equity.
Andrew Hartley, joint managing partner of August Equity, said Lonsdale’s work as an accountant had fuelled his desire to join a private equity group.
“Working in the M & A departments of large corporates is a good place to gain experience. Yet by the nature of the beast you are restricted in your activities. In private equity you don’t have those groundhog days plus you have the opportunity to see acquisitions through,” Hartley said.
Separately August bolted on community care company Kentwood to Lifeways Community Care taking its buy and build investments for the company since it was acquired in June 2006 to £60 million ($117.6 million; €80.4 million).
“In times past local authorities would have their own care homes but the trend has moved towards community care. The service helps [people with learning difficulties] manage money and get them into jobs,” Hartley said.
The firm is putting the finishing touches to its latest fund close, an investor said.