Florham Park-based Prime Pensions on Tuesday said it acquired Piper Pension & Profit Sharing, a third-party administrator of retirement plans based in California. With the addition of Piper, Prime Pensions now serves over 11,000 retirement plans across eight offices nationwide.
Financial terms of the private transaction were not disclosed.
This acquisition marks Prime Pensions’ continued expansion throughout the West Coast, following its merge with Associated Pension Consultants in September 2022. APC will be overseeing the ongoing administration of the Piper plans.
Founded in 1994 by Kurt F. Piper, Piper Pension & Profit Sharing has provided personalized retirement plan compliance and administration services to small and mid-sized businesses from its headquarters in Los Angeles. The firm has built a strong reputation for delivering tailored services to its diverse client base.
“We are thrilled to welcome Kurt and the entire Piper team to Prime Pensions,” Scott Feit, founder and CEO of Prime Pensions said. “This strategic acquisition strengthens our presence in California and aligns with our mission to provide high-touch, customized services to retirement plan sponsors across the U.S. We look forward to collaborating with the Piper team as we execute on our many growth initiatives.”
Benesch Friedlander Coplan & Aronoff LLP acted as legal advisor to Prime Pensions, while Chase Law Group represented Piper.
