Second acquisition in three months drives Broadstone expansion
Broadstone, one of the UK’s fast-growing employee benefits and pensions consulting businesses, has acquired Glasgow-based Thomson Dickson Consulting (TDC) to support its growth across consulting and actuarial. The business is owned and managed by actuaries Ann Marie Dickson and Andy Thomson who, along with all of the company’s employees, will remain with the business in its Glasgow offices.
TDC is one of Scotland’s leading, independent actuarial consultancies and provides actuarial consultancy, scheme administration, and governance services to trustees and sponsoring employers of occupational pension schemes. The company was established in 2002 with an almost exclusive focus on providing high quality and cost-effective services to employers and trustees with small and medium sized DB pension schemes.
TDC currently supports over 50 full-service DB clients and many others on a project and/or consulting basis that typically have 20 to 800 members. Clients are primarily based in Scotland and cover sectors including professional services, construction, energy, forestry and automotive.
This latest acquisition takes Broadstone’s employee headcount to over 220 staff and expands its regional UK network across eight locations (Falkirk, Glasgow, Birmingham, Liverpool, London, Manchester, Nottingham and Sheffield).
Commenting on the acquisition, Nigel Jones, Head of Consulting and Actuarial Services at Broadstone, said: “Today’s announcement is another step in our measured but aggressive acquisition strategy to increase the depth of our resources and the scale and reach of the high-quality services we provide. With the effective governance and performance of pension schemes, quite rightly, coming under increasing scrutiny, it is critical that Broadstone continues to build the best possible talent in the sector. This acquisition means that the company can improve still further the consultancy, services and geographical reach we offer our clients and strengthens our position as a full-service provider of employee benefits and pensions in our target market.”
Andy Thomson from TDC added: “TDC has established an enviable reputation for delivering excellent services to trustees and employers with DB pension schemes. Becoming part of the Broadstone Group enables us to continue delivering the full range of required services and makes it easy for our clients to manage their pension schemes for many more years. Broadstone and TDC share a deep understanding of the challenges faced by companies and trustees as their pension schemes mature. We typically provide a more proactive and personal service than that provided by larger providers to the SME market. The acquisition is good news for our clients and also for our employees who will all benefit from the advantages to be gained from working with, and for, a national market leader.”
Xavier Woodward from Broadstone’s private equity parent, Livingbridge, said, “It is fantastic to see Broadstone continue its buy and build strategy at pace and TDC is a great acquisitive step, significantly increasing its geographic reach and service offering. I look forward to seeing the combined businesses grow and maintain the high quality service they are both renowned for.”