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Investment & Support for the Liverpool City Region and the North West

  • CS Financial Solutions

    “This was my first experience dealing with private equity. We had a number of investors interested but we chose to go with MSIF because they genuinely care about the business and I know that they will support us going forward."

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Liverpool-based Charles Stanley Financial Solutions is a leading employee benefits advisory business was founded in Liverpool in 1934 as part of the Griffiths & Armour Insurance Broking practice. It was then sold to Charles Stanley plc in 2008.

The business offers financial services advice to corporate clients and their employees on a variety of employee benefit schemes including healthcare, death in service, income protection, flexible benefits, and pensions.

CSFS, which also has an office in London, had a turnover of £3.5m at the last accounts date and employs 50 staff.

The Investment

MSIF provided a £1.4m equity investment as part of a £2m package to enable the existing management team including chief executive Paul McGuckin, managing director Craig Williams and commercial director Colin Nicol to buy the company and form a new business, trading as CS Financial Solutions.

All staff remained in the business and all existing clients transferred to the new company.

The Outcome

By creating an independent business CSFS will be able to run the business far more efficiently and profitably.

The company is forecasting significant growth across the business and are planning to take on around 15 new specialist staff during the next two years.

Paul McGuckin said: “This was my first experience dealing with private equity. We had a number of investors interested but we chose to go with MSIF because they genuinely care about the business and I know that they will support us going forward. MSIF’s culture is to create and sustain jobs in the area and their knowledge and experience will be invaluable to us as we look to grow the business.”

“With the constantly changing regulatory environment around employee benefits and pensions that will affect every business in the UK, there is lots of opportunity for us to build on our strong reputation across the UK.”

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