Prime Pensions, a Florham Park, New Jersey-based provider of retirement plan compliance and administration services, has acquired Northwest Retirement Plan Consultants, a Puyallup, Washington-based provider of retirement plan design, administration and consulting services.
Terms of the acquisition were not disclosed.
Martin Smith and Debbie Smith, managing principals of Northwest Retirement, “will continue in their roles and join the leadership team of the combined business,” Scott Feit, chief executive officer of Prime Pension, said in a press release.
As Northwest did before the acquisition, Prime Pensions, a portfolio company of Mill Point Capital, specializes in serving small and medium-sized businesses. The acquisition enhances Prime Pensions’ retirement plan portfolio, Mill Point said in the release.
“The acquisition of NWRPC is highly complementary to Prime Pensions as it diversifies our client base and adds significant extension to our geographic presence," Feit said.
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