Acquisition Increases Market Share and Expands Retirement LLC – Series Two Service Organization
OKLAHOMA CITY, Jan. 8, 2014 /PRNewswire/ — Retirement LLC – Series Two, based in Oklahoma City, OK, today announced that it has signed a definitive agreement to merge third party administrator (TPA) Capella Inc. of Sioux Falls, SD into Retirement LLC – Series Two. The transaction closed on January 2nd 2014.
Capella is the largest retirement plan consulting organization in South Dakota advising and assisting companies with their qualified retirement planning. Capella was established in 1999 as a regional provider of tax qualified defined contribution plan services. Today the firm partners with financial professionals, bank trust departments, CPAs and attorneys, and has grown from a regional service provider to national provider with clients across the United States. The firm was acquired in 2011 by Dana Hagen and has grown its market share significantly under his leadership.
"Merging with Capella Inc. further expands our market share across the United States while adding an experienced client services team that understands the TPA retirement business. This merger adds significant strategic value to the future growth of our organization," said Robert Krypel, CEO of Retirement LLC – Series Two. "Dana has built a great business at Capella and has a terrific client services organization. This merger gives us more client-facing strength as we continue to fulfill our goal of becoming the nation's leading national TPA organization. Dana will help lead our expansion efforts and become a vital part of our executive team. This is our third merger in the last 12 months and we have no plans to slow down in 2014. We will continue to grow Retirement LLC – Series Two organically and through mergers and acquisitions as we look ahead to 2014 and beyond," added Krypel.
"The vision and quality of service delivery was the main reason I decided to merge with Retirement LLC – Series Two," said Dana Hagen, Capella President and CEO. "We have a commitment to our clients to provide extremely high service levels that meet all of their needs. We will continue to grow – and now have a national platform to add more business without compromising the quality of the service for our clients," Hagen added. "The TPA retirement business is very fragmented and it's challenging for smaller firms to both grow their client base and provide high service levels. This merger was the right opportunity at the right time for Capella. I look forward to continuing to serve our existing clients with the same service they have come to expect from us while expanding our market share. This was an excellent decision to become part of Retirement LLC – Series Two," added Hagen.
About Retirement LLC – Series Two:
Retirement LLC – Series Two is an independent third party administration firm and record-keeper for tax-qualified retirement plans. The firm operates from offices in Oklahoma City, OK, with its corporate headquarters in Northbrook, IL. Retirement LLC – Series Two provides consulting, record-keeping, actuarial services and plan administration services to more than 1600 plans. Plans include defined benefit and cash balance, defined contribution, profit sharing, 401(k), ESOP, and 403(b) plans. Plans range in size from 1 to 2,500 participants.
Terms of the transaction were not disclosed. Wallingford Partners, LLC was the advisor to Retirement, LLC – Series Two in this merger.