Revenues at the financial consultant have nearly tripled over the past 12 years, according to Preqin’s Company Intelligence dataset.

  • US-based private equity firm Lovell Minnick Partners (LMP) has invested in UK financial services consultancy Broadstone.

  • Broadstone provides advice across the employee benefits, pension, credit, and insurance industries, and has more than 700 consultants, administrators, and actuaries across 10 UK offices.

  • Tony Gusmao, CEO of Broadstone, said LMP’s investment ‘will allow us to accelerate growth and expansion of our offerings – particularly in our newly formed Insurance, Regulatory & Risk Unit.’

January 7, 2024 (Preqin News) – Broadstone is now entering its 15th year under private equity ownership. Oakley Capital Private Equity acquired the financial consultancy in 2010 for £16.5mn, before selling to Livingbridge in 2016 at a 30% loss, according to an investor presentation.

Over the next five years, Livingbridge undertook a bolt-on strategy – acquiring six financial consultancy and actuarial companies across the UK. Revenues grew from £10.9mn ($13.6mn) in June 2015 to £13.5mn ($16.9mn) in June 2020, while headcount grew from 323 to 506, according to Preqin data.

Livingbridge then sold to ICG in January 2021 at a reported value of £100mn ($124.9mn). As of June 2024, turnover had grown to £20.3mn ($25.4mn) – a three-year compound annual growth rate (CAGR) of 10.35% and five-year CAGR at 16.33%.

A broad base for growth

Broadstone’s revenue and three-year CAGR, 2013–2024

Broadstone’s foundation for growth

Source: Preqin Company Intelligence. Data as of January 2025

LMP said its growth equity investment will address a growing need for specialist advice and consulting services. ‘The market demands a client-centric approach that offers accessibility, accuracy, and regulatory compliance,’ said Spencer Hoffman, a Partner at LMP.

The opinions and facts included within the above do not constitute investment advice. Professional advice should be sought before making any investment or other decisions. Preqin providing the information in this content accepts no liability for any decisions taken in relation to the above.