Broadstone, a leading independent pensions, employee benefits, and investments consultancy, announces that it has agreed to acquire OAC PLC, a UK based actuarial and financial services consultancy.
The acquisition will see OAC’s expert team further diversify Broadstone’s offering.
OAC’s focus on serving life and non-life insurers and redress clients, alongside its data analytics and financial modelling capability will complement Broadstone’s existing consulting and actuarial expertise.
OAC was founded in 1994 and has clients across a range of financial organisations within the UK, as well as in other countries around the world. OAC is known for its commitment to building genuine relationships with its clients, based on trust and personal, bespoke support.
There will be a seamless transition for OAC clients, who will continue to be served by the same team once it is part of Broadstone and they will benefit from access to the wider set of services the expanded group has to offer. OAC will maintain its well-established brand and culture after the acquisition.
Broadstone’s Consulting & Actuarial division is a trusted adviser to over 400 Trustee Boards and scheme sponsors. Broadstone was voted the UK’s best Third-Party Administrator in 2022 by its clients with scheme membership ranging from as little as five to as many as 15,000.
Tony Gusmao, CEO at Broadstone, commented: “I am delighted to welcome the OAC team and its clients to Broadstone and am looking forward to working with them to further strengthen our leading Consulting & Actuarial offering.
“Broadstone is focused on offering excellent service to our clients and, when opportunities arise, investing in businesses with complementary services that we can help to grow. OAC’s relentless focus on high-value consulting and actuarial services make it an ideal addition to Broadstone.”
Darren Richards, CEO of OAC, said: “Combining our 30-year track record of providing high-quality service to the insurance sector with Broadstone’s pensions and benefits expertise is an exciting step for OAC. The transaction means we can continue to offer our clients the same level of dedication and sector specialism that made OAC successful while expanding the range of services we offer and building a platform for the future growth of the business.”
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