Strategic Partnership Between Lovell Minnick and Broadstone

Lovell Minnick Partners Partners with Broadstone

Lovell Minnick Partners (LMP) is excited to announce a new strategic growth investment in Broadstone. This private equity firm is renowned for its focus on financial services, business services, and financial technology companies. With this announcement, LMP aims to strengthen Broadstone's operations, allowing the firm to enhance its offerings to current and future clients.

About Broadstone's Comprehensive Services

Broadstone has a well-established reputation in the financial services sector, acting as an independent consultancy that provides expert advice to employers, insurers, lenders, and pension scheme trustees. With over 40 years of industry experience, Broadstone is committed to client satisfaction. The investment from LMP will facilitate further growth in service areas while ensuring that the management team retains a significant stake in the company.

Broadstone specializes in a wide array of services which includes employee benefits consulting, pensions administration, and actuarial services. Their expertise extends to investment consulting, insurance consulting, credit risk services, financial modeling, data analytics, and support for redress processes. Broadstone operates with a team of 650 skilled professionals, including over 85 actuaries, across ten locations in the UK, demonstrating their capacity to manage substantial client demands.

Insights from the Leadership Teams

Reflecting on this strategic investment, Roumi Zlateva, Principal at LMP, highlighted a variety of reasons for the partnership. He noted Broadstone's client-centric focus, impressive history of organic growth, and the strategic alignment they share. Zlateva conveyed excitement about contributing capital and guidance to help Broadstone scale its operations for future success.

Meanwhile, Tony Gusmao, CEO of Broadstone, shared that their sustained focus on clientele has been a key factor in their operational effectiveness. Gusmao expressed confidence that the financial backing from LMP, alongside LMP’s substantial experience in guiding professional service firms, will significantly boost Broadstone's growth trajectory, particularly in their newly established Insurance, Regulatory & Risk unit, strengthening their position in the insurance actuarial consultancy market.

Market Trends and Future Prospects

As the demand for specialized advice and consulting services grows within the employee benefits, pension, credit, and insurance domains, the emphasis on client-centric approaches is becoming increasingly critical. Spencer Hoffman, Partner at LMP, voiced that Broadstone’s proficient management and robust team of actuaries and consultants set the groundwork for a culture of excellence. LMP looks forward to joining Broadstone in expanding its services to adapt to the changing needs of their clients.

The partnership is on track to finalize by the second quarter of 2025, pending standard regulatory evaluations. Financial specifics of the transaction remain undisclosed.

About Broadstone

Broadstone is regarded as a premier independent consultancy within the UK financial sector. They have been dedicated to delivering valuable insights to employers, lenders, insurers, and pension trustees for more than four decades. Their extensive range of services includes consulting on employee benefits, pensions management, actuarial insights, and investment advice. Broadstone stands out in redress calculation, enhancing their position as a reliable partner for their clients.

The Broadstone team, formed of over 650 expert consultants and administrators, empowers clients to efficiently navigate changing circumstances. Their focus is on providing clarity and direction, all while maintaining exceptional service quality.

About Lovell Minnick Partners

Lovell Minnick Partners is a distinguished private equity firm that has been successfully collaborating with growth-driven businesses for over 25 years. They utilize extensive industry knowledge and a broad network of advisors to assist founders in rapidly scaling their companies. The firm aims to foster long-term success for organizations through both organic growth strategies and strategic acquisitions. Since its inception in 1999, LMP has raised more than $5 billion in committed capital and invested in over 50 unique platform companies, completing in excess of 200 add-on acquisitions. LMP primarily seeks out middle-market companies that are growth-oriented, particularly in sectors involving financial services, business services, and financial technology.

Frequently Asked Questions

What prompted Lovell Minnick Partners to invest in Broadstone?

The strategic investment aims to enhance Broadstone's service offerings and support its growth trajectory in the financial consultancy sector.

What services does Broadstone provide?

Broadstone offers diverse services including pensions administration, actuarial consulting, employee benefits advice, and investment consulting.

When is the transaction expected to close?

The transaction is anticipated to be finalized in the second quarter of 2025, pending regulatory reviews.

How many professionals does Broadstone employ?

Broadstone has a workforce of over 650, comprising more than 85 actuaries, across ten offices in the UK.

What is the investment focus of Lovell Minnick Partners?

LMP targets growth-oriented, middle-market companies, primarily focusing on financial services, business services, and financial technology sectors.

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