The acquisition enables Broadstone Group, which also operates an independent trustee business, to strengthen and extend its current offering in the employee benefits consulting sector to support both larger clientele and small and medium-sized enterprises (SMEs).
Grant Stobart (pictured), chief executive officer at Broadstone Group, said: “This is an exciting acquisition for us and brings additional capabilities and additional experienced staff and scale that will help ensure that we remain truly competitive in the provision of innovative employee benefits solutions in a competitive market that is seeing significant consolidation. We now have over 200 professionals serving more than a thousand clients across the UK.
“With the full backing of our private equity parent, Livingbridge, 2019 looks to be a year of strong organic and acquisitive growth for Broadstone as we actively pursue further acquisitions that share our cultural values and complement our expertise and service.”
CSFS will become fully integrated with Broadstone Group, helping to serve the organisation’s UK and international client base through its Assurex Global Network.
The acquisition increases Broadstone Group’s regional reach, with a new total of six UK offices across locations such as Falkirk, London, Manchester, Nottingham and Sheffield.
Paul McGuckin, chief executive officer at CSFS, added: “Being an integral part of a larger, innovative organisation with ambitious growth plans and the resources to deliver will mean that we can continue to offer our clients the very best product solutions and service.
“For our staff, it means that they can benefit from the significant career and development opportunities that come with working for a market-leading organisation.”
Xavier Woodward, partner at Livingbridge, said: “We are delighted to welcome CS Financial Solutions to Broadstone, with the two businesses not only enjoying strong product cohesion but also a natural cultural fit with client satisfaction at the heart of the services they offer.
“This is an exciting next step for Broadstone following its acquisition of Mitchell Consulting and 2020 Trustees, and we look forward to seeing the business further deliver on its [merger and acquisition] ambitions in the year ahead.”