PE Tech Report


Like this article?

Sign up to our free newsletter

Mill Point Capital sells Prime Pensions

Mill Point Capital, a private equity firm focused on control investments in North American mid-market companies across the business services, industrials and IT services sectors, has sold Prime Pensions, a US provider of retirement plan compliance and administration services.

Prime Pensions is headquartered in Florham Park, New Jersey and provides third-party retirement plan compliance and administrative services — including plan design and implementation, annual administration, consulting and other actuarial services — to small and medium-sized businesses, to ensure their clients are compliant with US regulators.

Over the course of its three-year ownership, Mill Point Capital worked with the company’s management to transform the business from a regional TPA to a national provider, with additions to senior management, the implementation of new technology systems and investment in the sales organisation, according to a press release. As a result, the company grew the number of plans under administration by more than 330%.

In a statement, Dustin Smith, Managing Partner at Mill Point Capital, said: “We worked tirelessly to scale the company, employing both organic and inorganic growth strategies, to establish a platform that not only provides outstanding TPA services, but is also positioned for sustained growth.”

Raymond James acted as financial advisor to Mill Point Capital and Prime Pensions.

Like this article? Sign up to our free newsletter




Blackstone Private Equity