Broadstone has agreed to acquire UK-based actuarial and financial services consultancy, OAC PLC.
The acquisition, for an undisclosed amount, will involve a seamless transition for OAC clients who will continue to be served by the same team once it is part of Broadstone as an expanded group.
Broadstone is a consultancy firm that specialises in advising employers and pension trustees to look after their employees and scheme members, and its consulting and actuarial division is a trusted adviser to over 400 trustee boards and scheme sponsors.
The firm suggested that OAC’s focus on serving life and non-life insurers and redress clients, alongside its data analytics and financial modelling capability, will complement the existing Broadstone consulting and actuarial expertise.
OAC will maintain its brand and culture after the acquisition, the firm stated, but its clients can benefit from access to a wider set of services the expanded group will have to offer.
“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 and actuarial offering,” Broadstone CEO, Tony Gusmao, commented.
“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.”
OAC CEO, Darren Richards, added: “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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