National Investment Managers, a retirement plan administration and investment management company, has closed the acquisition of Pension Technical Services, doing business as Reptech. The acquisition was valued at approximately $3.5 million.
With the addition of Reptech, National Investment Managers (NIVM) now has operations in 15 states of the US.
Reptech is a third party administration firm providing retirement plan design, administration, and consulting services for qualified retirement plans.
John Davis, president and COO of National Investment Managers, said: Reptech is the ideal platform for NIVM in Colorado. We expect to see continued strong annual growth from this acquisition, and by utilizing Reptech as a platform, we anticipate building a significant regional presence in the southwest.
Ralph Shaw, president of Reptech, said: The quality and reputation of the NIVM operations is unparalleled, and we are proud and excited to take this step. We are looking forward to driving continued growth and an expanded regional reach through the additional resources and expertise that we can offer.