Broadstone and Lovell Minnick Partners have signed an agreement for the private equity firm to make a strategic growth investment in the consultancy firm but financial terms were not disclosed.
Lovell Minnick focuses on investments in financial services, business services and financial technology companies. It’s been in business for nearly 26 years with a portfolio of over 50 company investments.
According to Broadstone, this investment will enable the firm to further broaden and deepen its offerings to current and prospective clients. The Broadstone management team will continue to own a significant stake in the business and maintain leadership of the company.
The transaction is expected to close in the second quarter of 2025, subject to customary regulatory reviews and approvals.
Broadstone CEO Tony Gusmao says: “For more than four decades, Broadstone has upheld an intense focus on our clients, ensuring that we have the best team and technology in place to deliver best-in-class services across the UK.
“As we look to the future, LMP’s investment coupled with the firm’s deep experience helping professional services firms scale will allow us to accelerate growth and expansion of our offerings – particularly in our newly-formed Insurance, Regulatory & Risk unit – that will assert our position as a leader in the insurance actuarial consultancy space.”
LMP principal Roumi Zlateva says: “LMP was drawn to Broadstone for a multitude of reasons ranging from its client-centric approach to its track record of organic growth, and of course, our strategic alignment and excitement for the next chapter of its development.
“Broadstone has built a differentiated position in the market enabled by a highly capable and talented team, and we look forward to providing capital, guidance and resources to continue that effort of scaling the business and positioning it for future success.”
