Lovell Minnick Partners ("LMP"), a private equity firm focused on investments in financial services, business services and financial technology companies, today announced the signing of a definitive agreement to make a strategic growth investment in Broadstone.
Broadstone is a leading, independent UK financial services consultancy delivering expert advice to employers, insurers, lenders and pension scheme trustees. This investment will enable Broadstone to further broaden and deepen its offerings to current and prospective clients. Going forward, the Broadstone management team will continue to own a significant stake in the business and maintain leadership of the company.
Broadstone has an over 40-year history as a customer-centric, leading pensions administrator, actuarial consulting and employee benefits specialist focused on supporting and securing the prosperity of its clients and their customers and members. The company's specialist services include employee benefits consulting, pensions administration and actuarial services, investment consulting, insurance consulting, credit risk services, financial modelling, data analytics services, and redress support. The company has a team of 650 experts, including more than 85 actuaries, across ten offices in the UK.
"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," said Roumi Zlateva, Principal at LMP. "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."
"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," said Tony Gusmao, CEO of Broadstone. "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."
"There is a growing need for specialist advice and consulting services across the employee benefits, pension, credit and insurance industries, and the market demands a client-centric approach that offers accessibility, accuracy, and regulatory compliance," said Spencer Hoffman, Partner at LMP. "Broadstone's capable management team and deep bench of actuaries, consultants and administrators exude a culture of excellence. We're looking forward to collaborating with this strong team to continue expanding its offerings to meet the evolving needs of customers."
The transaction is expected to close in the second quarter of 2025, subject to customary regulatory reviews and approvals. Financial terms were not disclosed.
About Broadstone
Broadstone is a leading, independent, UK consultancy delivering expert advice to employers, insurers, lenders and pension scheme trustees.
For over 40 years, Broadstone has been providing its clients with a wide range of specialist services including employee benefits consulting, pensions administration and actuarial services, investment consulting, insurance consulting across life, non-life and the Lloyds and London markets, credit risk services and a range of financial modelling and data analytics services. Broadstone is also a recognised leader in redress calculation services.
Broadstone's team of over 650 expert consultants and administrators, including more than 85 actuaries across ten UK offices, empowers its clients to navigate complexity and change confidently with, clarity, leadership and purpose, all delivered on a platform of exceptional service.
About LMP
Lovell Minnick Partners is a private equity firm with a 25-year track record of partnering with growth-oriented companies. LMP leverages deep sector experience and a broad network of strategic advisors to help founders scale their companies at an accelerated pace. The firm collaborates with management teams seeking to achieve long-term success and value creation through organic growth and strategic acquisitions. Since inception in 1999, LMP has raised over $5 billion of committed capital, invested in more than 50 unique platform companies and completed over 200 add-on acquisitions. LMP targets growth-oriented, middle-market companies with a particular focus on companies in the financial services, business services and financial technology sectors.
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Contacts:
Media
Broadstone
Temple Bar Advisory
Alex Child-Villiers Sam Livingstone
broadstone@templebaradvisory.com
+44 207183 1190
LMP
Shaye Spector
(646) 818-9188
sspector@prosek.com
