Mill Point Capital has made an investment in Florham Park, New Jersey-based Prime Pensions Inc, a provider of retirement plan recordkeeping, consulting, actuarial and administration services. No financial terms were disclosed.
FLORHAM PARK, N.J.–(BUSINESS WIRE)–Prime Pensions Inc. (“PPI” or the “Company”), an independent provider of retirement plan recordkeeping, consulting, actuarial and administration services, announced that it has partnered with Mill Point Capital, a middle-market private equity firm focused on the business services, IT services and industrials sectors. Founder Scott Feit will continue as CEO while retaining a significant ownership stake in the Company.
Prime Pensions is a leading provider of third-party retirement plan compliance and administration services to small and medium-sized businesses. Key services include plan design and implementation, recordkeeping and annual administration, consulting and other actuarial services to ensure its clients are compliant with the Department of Labor, IRS and other regulatory organizations. Since the Company’s founding in 2012, Prime Pensions has been both a top service provider and thought leader in the retirement plan administration industry. The Company is headquartered in Florham Park, NJ and primarily operates in the Northeastern U.S.
Scott Feit, CEO of Prime Pensions, commented, “Our partnership with Mill Point provides meaningful resources to drive both future growth and expansion of our client base. This partnership demonstrates our commitment to providing exemplary service to our customers.”
“Under the leadership of Scott Feit and his team, Prime Pensions has grown into a true market leader in retirement plan administration services. We look forward to partnering with Scott and PPI to execute on multiple growth opportunities and other strategic initiatives,” said Dustin Smith, Partner of 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. For more information, please visit www.primepensionsinc.com.
About Mill Point Capital
Mill Point Capital is a middle-market private equity firm focused on control-oriented investments in the industrial, IT services and business services sectors. The firm works with executive partners to leverage its investment professionals’ experience while providing strategic and operational guidance to drive long-term value creation in its portfolio companies. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.