Private equity firm buys majority stake in Florham Park pension services company

Private equity firm Mill Point Capital has taken a majority ownership stake in Prime Pensions Inc., based in Florham Park, the two companies announced recently.

Prime Pensions, an independent provider of retirement plan records and services, said founder Scott Feit will continue as CEO and retain a significant ownership stake.

“Our partnership with Mill Point provides meaningful resources to drive both future growth and expansion of our client base,” Feit said in a prepared statement. “This partnership demonstrates our commitment to providing exemplary service to our customers.”

Prime Pensions, which mostly operates in the Northeast U.S., provides third-party retirement plan compliance and administrative services to small and medium-sized businesses. Mill Point is based in New York City.