Livingbridge's Broadstone bolts on CS Financial Solutions

CSFS will become a fully integrated part of the Broadstone group and will help serve the combined group's client base through the Assurex Global network. The acquisition brings the number of Broadstone regional UK offices to six with other locations in London, Manchester, Sheffield, Nottingham and Falkirk.

Broadstone expects to reach revenues of £21.5m and EBITDA of £4m, following the acquisition.

The deal comes three years after Livingbridge acquired Broadstone from Oakley Capital Private Equity and BDO, and follows two recent acquisitions inked by Broadstone: Mitchell Consulting and 2020 Trustees.

Previous funding
Oakley acquired an 84.6% stake in Broadstone, known at the time as BDO Investment Management, in 2010, while BDO retained a 15.4% stake in the business. BDO Investment Management rebranded as Broadstone Pensions & Investments in 2011 and launched Broadstone Corporate Benefits the following year.

Company
Based in Liverpool, CSFS is a specialist employee benefits consultancy with around 35 professionals serving more than a thousand clients across the UK. The company generated revenues of £3.1m and EBITDA of £320,000 in 2018.

People
Livingbridge – Xavier Woodward (investment manager).
Broadstone Group – Grant Stobart (CEO).
CS Financial Solutions – Paul McGuckin (CEO).

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