Following the announcement on 12 December 2013 that BROADSTONE had acquired the business of the Blythwood Group, the Financial Conduct Authority has now approved the deal.
The acquisition went through on 7 March and represents a critical step in further strengthening BROADSTONE's corporate benefits offering.
Both companies believe that the acquisition:
- Combines the specialist skills and focus on excellence of client delivery from both organisations;
- Presents an excellent market opportunity, providing greater scale as the industry continues to consolidate;
- Gives both parties the ability to broaden the range of services on offer to clients.
The acquisition and subsequent approval means that the BROADSTONE Group will employ 220 people across 8 locations in the UK.
The new business will be known as BROADSTONE Risk and Healthcare Ltd and will continue to operate from its offices in Falkirk. Commenting on this, Mark Howlett CEO of BROADSTONE said:
"The FCA's approval for this acquisition is a significant step in the continued expansion of BROADSTONE. Blythwood's proven expertise and specialist skills in the risk and healthcare market will be a valuable and tangible asset to the group and will enable us to broaden our offering to existing and prospective clients.
"It is an exciting development in BROADSTONE's long term strategy to provide clients with a comprehensive services and I look forward to both welcoming our new colleagues from Blythwood on board as well as working with them to ensure our corporate benefits offering develops into the best service in the market."
Derek Gray, Managing Director of the Blythwood Group added:
"On behalf of everyone at Blythwood, I would like to say how pleased we are that we now have FCA approval. As I said last year, it represents a close alignment of business cultures and values and will be beneficial for both clients and staff. We look forward to working with BROADSTONE, providing clients with market leading advice and service complemented with a broader range of services."