Prime Pensions, which is backed by Mill Point Capital, has acquired the assets of Squire Retirement Plan Services, a New Jersey-based provider of retirement plan design, administration, consulting, and actuarial services. No financial terms were disclosed.
VERONA, N.J.–(BUSINESS WIRE)–Prime Pensions LLC (“Prime Pensions”), a portfolio company of Mill Point Capital LLC, announced today that it has acquired the assets of Squire Retirement Plan Services, Inc. (“Squire” or the “Company”), a New Jersey-based provider of retirement plan design, administration, consulting, and actuarial services.
Squire 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, 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 1991, Squire has been a top New Jersey service provider in the retirement plan administration industry. The Company is headquartered in Verona, NJ and primarily operates in the Northeastern United States.
Scott Feit, CEO of Prime Pensions, commented, “The asset acquisition of Squire is highly complementary to Prime Pensions as it diversifies our client base and adds a natural extension to our geographic presence. We identified Squire as an attractive opportunity for Prime Pensions shortly after the transaction with Mill Point, and we are thrilled that Squire and its clients are joining the Prime Pensions family.”
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 LLC is a private equity firm focused on control investments in lower-middle market companies, with a focus on the industrials, business services and IT services 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.