A news release from the Dublin, Ohio-based NIVM, said Pension Technical Services (that does business as Reptech Corp), serves more than 540 small and mid-size Southwest companies. Reptech, based in Denver, provides retirement plan design, administration, and consulting services.
According to the announcement, the acquisition was valued at approximately $3.5 million and will add approximately $600 million to NIVM’s assets under administration, which currently exceed $11 billion.
With the addition of Reptech, NIVM now has operations in 15 states.
“We are very deliberate in the selection of platform businesses to anchor our entry into targeted markets, and Reptech brings all of the attributes essential for success: strong management, outstanding service, extraordinary expertise and a track record of growth and profitability,” said Steven Ross, CEO of National Investment Managers, in the news release.