Livingbridge buys Broadstone from Oakley

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accounting-761599_640UK-based private equity firm Livingbridge has purchased financial adviser Broadstone from Oakley Capital.

The firm sold the company for an undisclosed amount, however the deal is understood to value it at between £15m and £30m according to RealDeals.

Oakley bought 84.4 per cent of Broadstone, formerly the investment management arm of accountancy company BDO, back in 2010.

The company provides pensions, employee benefits, actuarial and investment services advice to SMEs, pension scheme trustees and individual pension scheme members.

Livingbridge investment director Xavier Woodward said, “We are excited to be working alongside Mark (chief executive) 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.”

Livingbridge said it will help Broadstone build scale and broaden its offerings through supporting the management team’s growth strategy and making selected acquisitions.

Earlier this week, mid-market firm Livingbridge made a £9.8m investment in French restaurant group Le Bistrot Pierre.

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