Broadstone provides pensions, employee benefits, actuarial and investment services advice to small and medium-sized employers, pension scheme trustees and individual pension scheme members. They have offices in London, Sheffield and Falkirk, supporting clients across the UK.
Livingbridge’s investment is helping Broadstone build, scale and broaden its offerings by supporting the management team’s growth strategy and making selected acquisitions.
The chief executive of Broadstone said at the time of investment, “Our immediate plans are to focus on identifying the most suitable M&A partners to build on this growth, which in turn will help us achieve our future goal of becoming one of the leading employee benefit consultants for the mid-market arena. We look forward to an exciting future with Livingbridge."
A targeted acquisition strategy
- Since our investment, our corporate development team have supported Broadstone to acquire Mitchell Consulting and 2020 Trustees in 2017, and CS Financial Services, Thomson Dickson Consulting, 3HR Benefits Consultancy and BBS Consultants and Actuaries in 2019. These acquisitions mark significant steps in Broadstone's strategy to strengthen and extend its competitive offering in the employee benefits consulting sector.
- Broadstone's strategy aims to add further talent, geographical reach and scale, in order to serve both Broadstone's larger clients and the UK wide SME sector that is often poorly serviced by the larger consultancies. With increased scrutiny and governance of pension schemes. Broadstone aims to continues to build the best possible talent in the sector.
- The acquisition of Thomson Dickson Consulting in 2019 took Broadstone’s employee headcount to over 220 staff and expanded its regional UK network across eight locations (Falkirk, Glasgow, Birmingham, Liverpool, London, Manchester, Nottingham and Sheffield).
- In May 2019, Broadstone expanded its client base into the Asian market through the acquisition of 3HR Benefits Consultancy. This was the third acquisition Broadstone made in as many months and marked another step in its ambitious M&A strategy.
- Broadstone made its largest acquisition to date, BBS Consultants and Actuaries, in October. 2019 The acquisition doubled Broadstone's scale in the actuarial consulting, investment consulting and pensions administration space, bringing 130 staff, excellent technology and some £5 billion of assets under advice.
Our in house talent team have helped augment the senior team, including the appointments of a new CEO, CFO and chairman.
“Our new partnership with Livingbridge signals the start of what I know will be a successful long term relationship and allow Broadstone to continue on its current growth trajectory. Our immediate plans are to focus on identifying the most suitable M&A partners to build on this growth, which in turn will help us achieve our future goal of becoming one of the leading employee benefit consultants for the mid-market arena. We look forward to an exciting future with Livingbridge.”
Grant Stobart, CEO
“We are excited about the opportunity to work with Broadstone’s management team in building a leading force in the employee benefits space. We look forward to helping the business achieve organic growth and supporting it in making acquisitions.”
Xavier Woodward, Livingbridge
Broadstone established by a tax partner at BDO Stoy Hayward
Acquired by another private equity house
Livingbridge invest. CFO and chairman appointed to augment the senior team
Acquisition of Mitchell Consulting and 2020 Trustees
Acquisition of CS Financial Services
Acquisition of Thomson Dickson Consulting
Acquisition of 3HR Benefits Consultancy
Acquisition BBS Consultants and Actuaries