Private equity firm Livingbridge is buying Broadstone Corporate Benefits with a view to growing the firm through acquisitions.
Livingbridge is buying Broadstone Corporate Benefits and Broadstone Risk & Healthcare from Oakley Capital for an undisclosed fee.
Livingbridge says will help Broadstone build scale and broaden its offerings through supporting the management team’s growth strategy and making selected acquisitions.
Originally created by a tax partner at BDO Stoy Hayward in 1989, Broadstone was acquired by Oakley Capital in 2010.
Broadstone provides pensions, employee benefits, actuarial and investment services advice to small and medium sized employers, pension scheme trustees and individual pension scheme members. The 130-strong team supports clients across the UK with offices in London, Sheffield and Falkirk.
Fenchurch Advisory Partners advised Oakley on the transaction. Hines Associates Limited advised Livingbridge.
Broadstone Corporate Benefits chief executive Mark Howlett says: “This will allow Broadstone to continue on its growth trajectory by consolidating businesses that share the same ethos for excellent client service. The benefits will be felt by our clients, employees and prospects alike. We look forward to an exciting future with Livingbridge and we are pleased to be part of their growing list of successes.”
Xavier Woodward from Livingbridge says: “We are excited to be working alongside Mark and the team to build a leading business in the employee benefits space. We are looking forward to helping Broadstone achieve organic growth and supporting the business in making acquisitions – in which the team already has a successful track record.”
