Blue Ridge Associates announced the acquisition of Economic Group Pension Services, expanding the company’s retirement plan administration and compliance platform through a transaction that significantly increases its scale, service offerings, and geographic footprint. Financial terms of the transaction were not disclosed.
Founded in 1971 and headquartered in New York, EGPS provides retirement plan design, administration, actuarial consulting, and 3(16) fiduciary services across multiple retirement plan categories.
The acquisition adds more than 260 employees, approximately 7,200 retirement plans, and over $17 billion in assets under administration to Blue Ridge’s platform.
Following completion of the transaction, the combined organization will include more than 650 employees across 10 locations and will support over 17,500 plans representing more than 1.2 million participants and approximately $87 billion in assets under administration.
Blue Ridge said the acquisition expands its ability to serve plan sponsors, advisors, and channel partners through a broader range of retirement and equity compensation administration capabilities.
The company provides technology-enabled administration, recordkeeping, compliance, consulting, communication, and education services across employer-sponsored equity compensation and retirement benefit plans.
Blue Ridge operates as a portfolio company of Levine Leichtman Capital Partners, a middle-market private equity investment firm focused on structured private equity investments.
KEY QUOTES:
“This milestone acquisition brings together two highly complementary organizations with a shared commitment to delivering even greater value to the clients and partners we serve through a more comprehensive suite of capabilities, a service first culture, and unmatched technical expertise. EGPS has built a differentiated platform with extraordinary talent, and we are thrilled to welcome Daniel and his team to the Blue Ridge family.”
Mark Agustin, Chief Executive Officer, Blue Ridge Associates
“Joining forces with Blue Ridge is the right move at the right time for EGPS, our team, and our clients. This partnership allows us to scale meaningfully while continuing to deliver the high level of service our clients expect. Together, we bring a broader set of capabilities and deeper expertise to create new opportunities for our people. We’re excited to partner with Mark and the Blue Ridge team as we write the next chapter of EGPS.”
Daniel Liss, Chief Executive Officer, EGPS
“EGPS is precisely the kind of organization, with market-leading capabilities, exceptional culture, and a loyal client base, that accelerates our strategic vision and operating capabilities.”
Bill Yoerger, Executive Chairman, Blue Ridge Associates
