We’ve been doing business in Columbus for over 10 years, and we are extremely pleased to now have a local presence with the completion of this strategic acquisition.
Akron, OH (PRWEB) October 04, 2011
Tegrit Group, a leading provider of retirement plan consulting, plan administration and technology services for public and private plan sponsors, today announced the acquisition of Advisors Pension Services (APS), a Columbus, Ohio-based pension plan design and administration company.
The deal closed September 30, 2011. Bert Nester, founder and president of APS, remains with the firm and joins Tegrit Group as the Managing Director of its Columbus office.
The acquisition of APS allows Tegrit Group to more effectively partner with clients and the professional community in Columbus by solidifying a local presence with a seasoned team established in the market for nearly 30 years. The combination of services provides regional synergies with Tegrit’s wholly-owned subsidiary, Summit Retirement Plan Services, and is a key component in achieving the aggressive growth expectations for Tegrit Group.
Michael Spickard, CEO of Tegrit Group and Summit Retirement Plan Services, stated, “We’ve been doing business in Columbus for over 10 years, and we are extremely pleased to now have a local presence with the completion of this strategic acquisition. We look forward to providing growth opportunities for our Columbus staff, expanding our Columbus client base and more directly marketing our actuarial consulting expertise in a growing major metropolitan area, which aligns with our long-term growth strategy. We expect to make additional acquisitions of third party administrators (TPA) after the integration of APS has been completed.”
Started by Nester in 1983, APS has specialized in the design, implementation, and administration of retirement plans for a very diverse set of clients. APS provides their clients with the technical expertise needed to navigate today’s complex regulatory and administration environment. Nester also established and has chaired the annual Creative Pension Benefits Seminar in cooperation with The Ohio State University.
“Tegrit is the perfect fit for APS,” said Nester. “Tegrit is fully committed to the retirement sector, has the experienced leadership, vision and capital to grow, and understands the importance of maintaining strong relationships with clients and advisors. The TPA sector continues to evolve, and as part of Tegrit Group, we can enhance the products and services we offer our clients, knowing that we now have access to resources that are national in scope. I am quite excited about joining the leadership team with Tegrit Group.”
About Tegrit Group
The Tegrit Group (comprised of Tegrit Technologies, Tegrit Administrators, and Summit Retirement Plan Services) provides advanced recordkeeping and software solutions, actuarial consulting, and administration services for defined benefit, defined contribution, cash balance and retiree medical plans. The Tegrit team includes actuaries and other professionals with decades of private and public sector experience focused on delivering tools and consulting that support the culture, needs and goals of a broad spectrum of retirement plan sponsors. With over 100 associates, Tegrit provides services to over 2,000 employers and has employees in five offices in Cleveland, Columbus and Akron, Ohio, as well as Livonia, Michigan, and Spartanburg, South Carolina. For more information visit Tegrit.com or call 1877-7TEGRIT.