- Ascensus — a company that utilizes technology and expertise help millions of people save for retirement — announced it acquired Beneco. These are the details.
Ascensus — a company that utilizes technology and expertise help millions of people save for retirement, education, and healthcare — recently announced that it acquired Beneco. Beneco is a leading provider of bundled retirement and health and welfare benefits administration solutions in the prevailing wage market from Alpine Investors.
“For more than 30 years, Beneco has partnered with prevailing wage businesses all over the country to help them provide their employees with comprehensive benefits and valuable retirement plans,” said Beneco CEO Kristy Bryson. “We have invested time and resources to successfully position our business for the future and are excited to execute on new growth opportunities as part of FuturePlan.”
Scottsdale, Arizona-based Beneco offers a full suite of recordkeeping, third-party administration, and benefit plan consulting services. And the company will immediately become part of the FuturePlan by Ascensus line of business.
“At FuturePlan, we understand that contractors face unique challenges when it comes to creating and managing an employee benefits plan while keeping the cost of their bids down,” added Jerry Bramlett — the head of FuturePlan. “Beneco is one of the largest prevailing wage specialists in the country—adding their significant scale and unrivaled expertise to the FuturePlan team will allow us to help prevailing wage businesses to build a better future for their employees while giving them the ability to be more competitive with their contract bids.”
Beneco allies with contractors to empower them to build their businesses while helping their employees work toward a secure and prosperous future for their families. And with more than three decades of benefits experience serving the prevailing wage space, Beneco has the expertise and credibility needed for serving the complex needs of prevailing wage business owners and their employees.
“Acquiring Beneco allows FuturePlan to significantly strengthen its position in the prevailing wage market,” explained Raghav Nandagopal, Ascensus’ EVP of corporate development and M&A. “It also expands our presence in Arizona, which continues to be an attractive region in terms of growing our geographic footprint.”
Ascensus is considered the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the US. And the company delivers technology and expertise to help millions of people save for what matters most—retirement, education, and healthcare.
Waller Helms Advisors served as the exclusive financial advisor to Beneco and Alpine Investors for the transaction.
