National Investment Managers, a retirement plan administration and investment management company, has acquired Alaska Pension Services. The acquisition was valued at $1.3 million.
According to the company, Alaska Pension Services (APS) has been a prominent third party administration firm providing retirement planning services to small businesses, non-profit entities, Alaska Native Corporations and their associates.
The transaction is expected to add approximately $450 million to National Investment Managers’ (NIVM) assets under administration, bringing the total to over $11 billion. In addition, with the addition of APS, NIVM now has operations in 13 states.
Steven Ross, CEO of National Investment Managers, said: We are very happy with the addition of Alaska Pension Services to National Investment Managers. APS provides dominant market share in the state of Alaska, and expands the presence of NIVM in the Northwest, complementing our existing operations in Seattle and Portland.