Acquisition Significantly Enhances Prime Pensions’ Retirement Plan Portfolio
FLORHAM PARK, N.J. — Prime Pensions, LLC (“Prime Pensions”), a portfolio company of Mill Point Capital LLC (“Mill Point”), announced today that it has completed the acquisition of Associated Pension Consultants, LLC (“APC” or the “Company”), a California-based provider of retirement plan design, administration and consulting services.
We are thrilled to be joining the Prime Pensions family, and are excited about their commitment to our growth going forward. I am extremely proud of the extraordinary track record our team has built over the years and look forward to the next chapter for APC.
APC is a leading provider of third-party retirement plan compliance and administration services to small and medium-sized businesses. APC is one of the largest independent third-party pension administration firms in the country. Key services include plan design and implementation, annual administration, consulting and other actuarial services to ensure its clients are compliant with the United States Department of Labor, IRS and other regulatory organizations. Since the Company’s founding in 1974, APC has been a top California service provider in the retirement plan administration industry. The Company is headquartered in Sacramento, CA and primarily operates in the Western United States.
Marc Roberts, Partner and President of APC, commented, “We are thrilled to be joining the Prime Pensions family, and are excited about their commitment to our growth going forward. I am extremely proud of the extraordinary track record our team has built over the years and look forward to the next chapter for APC.” Marc Roberts will continue in his role as Partner and President of APC.
“Under the leadership of APC’s management team, the Company has grown into a true market leader in retirement plan services. We look forward to partnering with the entire APC team to continue the Company’s track record of growth and providing quality service to its clients,” said Scott Feit, CEO of Prime Pensions.
“APC has done an excellent job in establishing its reputation as a leader in a competitive and fragmented industry. We are excited to have the management team of APC continue in their roles and look forward to executing on the numerous growth opportunities and strategic initiatives ahead,” said Brandon Sarno, Vice President at Mill Point.
About Prime Pensions
Headquartered in Florham Park, NJ, Prime Pensions is an independent provider of retirement plan compliance and administration services primarily to small and medium-sized businesses. Prime Pensions is not affiliated with any investment product provider and does not offer investment advice.
About Mill Point Capital
Mill Point is an operationally-oriented private equity firm targeting control investments in lower-middle market companies, with a focus on business services, IT services and industrials sectors in North America. Mill Point’s experienced team of investors and Executive Partners seek portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.
Reposted from Business Wire.
