David Lonsdale

David Lonsdale is Managing Partner of August Equity, a London-based private equity firm founded in 2001 as a spin-out from Dresdner Kleinwort Wasserstein and focused on the UK lower mid-market. He joined August in 2008 and, on 3 March 2023, was announced as the firm's new Managing Partner, succeeding Philip Rattle, who had led the firm for 15 years and moved into the Chairman role and chairs the Investment Committee. In this capacity Lonsdale directs the firm's overall investment strategy and strategic development, and the transition was timed alongside the firm's fundraising for its Fund VI vehicle.

Before joining August, Lonsdale built a career across private equity, corporate development and M&A — the firm cites roughly 25 years of experience in these areas. His earlier roles included positions at professional-services and media businesses, notably KPMG, British Sky Broadcasting (BSkyB) and ITV, giving him a background in both transaction advisory and operating/corporate-development environments before moving into buyout investing.

His stated approach centers on partnering closely with founders and management teams to scale companies through a combination of organic growth and strategic "buy-and-build" acquisitions, with the aim of developing portfolio businesses into "high-quality institutional platforms that are leaders in their markets." On his appointment he said he "look[ed] forward to leading the firm in the next phase of its growth and further harnessing the considerable people talent we have."

• Invests in UK lower mid-market service businesses, typically writing equity cheques in the region of £10m–£50m per transaction.
• Concentrates on four core sectors: technology, compliance/business services, healthcare, and education.
• Backs management buy-outs and founder-led businesses, then pursues buy-and-build — acquiring add-ons to consolidate fragmented markets and create scaled "institutional platforms."
• Emphasis on "succeeding together" with management — combining organic growth with M&A rather than financial engineering alone.
• Track record orientation: the firm reports seven realisations since 2022, returning >£540m at a blended ~4.6x money multiple, reflecting a focus on delivering strong multiples for institutional LPs.