, /PRNewswire/ — Blue Ridge Associates (“Blue Ridge”), a leading provider of administration and compliance solutions for employer-sponsored, tax-advantaged equity compensation and savings benefit plans, announced today that it has acquired Economic Group Pension Services (“EGPS”). The addition of EGPS represents a landmark milestone for Blue Ridge, fundamentally transforming the organization’s size and scale while broadening its service portfolio and geographic footprint to better serve plan sponsors, advisors, and channel partners.
Established in 1971, EGPS is an industry-leading retirement plan services firm that offers plan design, administration, actuarial consulting, and 3(16) fiduciary services for all types of retirement plans. Based in New York, New York, EGPS brings over 260 team members and 7,200 retirement plans with over $17 billion assets under administration to the Blue Ridge portfolio.
“This milestone acquisition brings together two highly complementary organizations with a shared commitment to delivering even greater value to the clients and partners we serve through a more comprehensive suite of capabilities, a service first culture, and unmatched technical expertise,” said Mark Agustin, Chief Executive Officer of Blue Ridge. “EGPS has built a differentiated platform with extraordinary talent, and we are thrilled to welcome Daniel and his team to the Blue Ridge family.”
Following this acquisition, the combined organization will have over 650 team members across 10 locations, serving over 17,500 plans with over 1.2 million participants and $87 billion in assets under administration across the US retirement and equity compensation benefit plan sector.
“Joining forces with Blue Ridge is the right move at the right time for EGPS, our team, and our clients,” said Daniel Liss, Chief Executive Officer of EGPS. “This partnership allows us to scale meaningfully while continuing to deliver the high level of service our clients expect. Together, we bring a broader set of capabilities and deeper expertise to create new opportunities for our people. We’re excited to partner with Mark and the Blue Ridge team as we write the next chapter of EGPS.”
Bill Yoerger, Executive Chairman for Blue Ridge added, “EGPS is precisely the kind of organization — with market-leading capabilities, exceptional culture, and a loyal client base — that accelerates our strategic vision and operating capabilities.”
For more information, please contact Mark Agustin at [email protected].
About Blue Ridge Associates
Founded in 1988, Blue Ridge is a leading provider of administration and compliance solutions for employer-sponsored tax-advantaged equity compensation and savings benefit plans, serving over 10,300 plans covering over 950,000 participants with over $69 billion in assets under management. The Company offers a full suite of tech-enabled services, including recordkeeping, administration, compliance, consulting, communication, and education for tax-advantaged employer-sponsored ESOP plans, as well as all types of qualified retirement plans, such as 401(k), 403(b), cash balance and pension plans. The Company’s integrated, best-of-breed delivery model, proprietary technology platform, and established network of strategic distribution partners, make it easy for employers to provide wealth building benefits to employees. Blue Ridge is a portfolio company of Levine Leichtman Capital Partners.
About EGPS
Founded in 1971, Economic Group Pension Services (EGPS) is a national independent consulting firm that designs and administers cutting edge retirement plans. The company serves over 7,200 benefit plans for business owners and their employees across the country. For more information about EGPS, please visit https://egps.com.
About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 42-year track record of investing across various targeted sectors, including Business Services, Franchising & Multi-unit, Education & Training and Engineered Products. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. LLCP believes that by investing in a combination of debt and equity securities, it offers management teams growth capital in a highly tailored, flexible investment structure that can be a more attractive alternative than traditional private equity.
LLCP’s global team of dedicated investment professionals is led by 9 partners who have worked at LLCP for an average of 20 years. Since inception, LLCP and its affiliates have managed approximately $18.5 billion of capital across nearly 20 investment funds and has invested in approximately 120 portfolio companies. LLCP currently manages $12.7 billion of assets and has offices in Los Angeles, New York, Chicago, Miami, London, Stockholm, Amsterdam and Frankfurt.
SOURCE Blue Ridge Associates
