Employee benefits and pensions consulting company, Broadstone, has announced the acquisition of Bristol-based firm, BBS Consultants and Actuaries.

This is Broadstone’s fourth and largest acquisition this year, following the purchases of CS Financial Solutions in Liverpool, Glasgow-based Thomson Dickson Consulting and 3HR Benefits Consultancy in London.

It is seeking to strengthen its position in the pension and actuarial consulting marketplace.

The firm was founded in 1997 and has around 250 clients, mainly focused in the South West of England.

Commenting on the announcement, Broadstone Group CEO, Grant Stobart, said: “Above and beyond our continuing organic growth, our stated intent is to follow our ambitious acquisition strategy across the UK in order to reinforce our position in the national employee benefits and pensions consulting sector.

“With around 130 staff, excellent technology and some £5bn of assets under advice, the acquisition of BBS represents Broadstone’s most ambitious and strategically important acquisition to date and effectively doubles our scale in the actuarial consulting, investment consulting and pensions administration space.

“By acquiring BBS we welcome some of the finest pension and employee benefits professionals in the UK to our growing company and they will contribute hugely to our continuing growth and success in the years to come.”

BBS managing director, Paul Bowden, added that there was a “strong cultural fit” between the companies.

He continued: “Like Broadstone, we share a deep understanding of the challenges faced by companies and trustees in relation to their pension schemes typically providing a more proactive and personal service than that provided by larger providers.

“The combination is good news for clients who will benefit from an expanded network and access to a larger pool of consultants providing expert guidance and solutions that will help meet their needs.”

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