Livingbridge has agreed terms and exchanged contracts to acquire Broadstone Corporate Benefits Ltd and Broadstone Risk & Healthcare Ltd from Oakley Capital, the company reported this morning.

Livingbridge said it will help Broadstone build scale and broaden its offerings through supporting the management team’s growth strategy and making selected acquisitions. There was no mention in the announcement of the fee involved. 

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.

Originally created by a tax partner at BDO Stoy Hayward in 1989, Broadstone was acquired by Oakley Capital in 2010.

Mark Howlett, chief executive of Broadstone Corporate Benefits, said: “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, Investment Director at Livingbridge, said: “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.”

Fenchurch Advisory Partners advised Oakley on the transaction. Hines Associates Limited advised Livingbridge.