M&A Deal Summary

Ascensus Acquires Provident Trust Group

On October 18, 2017, Ascensus acquired financial services company Provident Trust Group from The Beneficient Company

Acquisition Highlights
  • This is Ascensus’ 3rd transaction in the Financial Services sector.
  • This is Ascensus’ 8th transaction in the United States.
  • This is Ascensus’ 1st transaction in Nevada.

M&A Deal Summary
Date 2017-10-18
Target Provident Trust Group
Sector Financial Services
Buyer(s) Ascensus
Sellers(s) The Beneficient Company
Deal Type Divestiture
Advisor(s) Macquarie Capital (Financial)
Howard & Howard Attorneys (Legal)

Target

Provident Trust Group

Las Vegas, Nevada, United States
Provident Trust Group LLC is an independent administrator and custodian of over $3 billion of self-directed retirement accounts for high net worth individuals located in all fifty states and invested in alternative assets.

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Buyer(S) 1

Buyer

Ascensus

Dresher, Pennsylvania, United States
Category Company
Founded 1980
Sector Business Services
DESCRIPTION

Ascensus is an independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. The firm delivers technology and expertise to help millions of people save for what matters most retirement, education, and healthcare. Ascensus was formed in 1980 and is based in Dresher, Pennsylvania.

DEAL STATS #
Overall 8 of 39
Sector (Financial Services) 3 of 5
Type (Divestiture) 1 of 4
State (Nevada) 1 of 1
Country (United States) 8 of 39
Year (2017) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-26 Benefits of Missouri

Chesterfield, Missouri, United States

Benefits of Missouri, Inc. is a provider of retirement and college savings plans to financial professionals, employers and individuals. Benefits of Missouri, Inc. was established in 1984 and is headquartered in Chesterfield, MIssouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-23 Polycomp Administrative Services

Roseville, California, United States

Polycomp Administrative Services, Inc. is a provider of client-specific solutions and services for self-directed IRAs, qualified plans, and prevailing wage trusts. The firm works with over 5,000 clients and administers approximately 1,500 plans. It is also home to dozens of credentialed associates who hold certifications from the American Society of Pension Professionals & Actuaries, the National Institute of Pension Administrators, and the Institute of Certified Bankers.

Buy -

Seller(S) 1

SELLER

The Beneficient Company

Dallas, Texas, United States
Category Company
Sector Business Services
DESCRIPTION

The Beneficient Company LP is a provider of liquidity and administrative services for holders of alternative assets and illiquid investment funds.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (Nevada) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-15 Provident Trust Group

Las Vegas, Nevada, United States

Provident Trust Group LLC is an independent administrator and custodian of over $3 billion of self-directed retirement accounts for high net worth individuals located in all fifty states and invested in alternative assets.

Buy -
Mergr

Product

Company

Legal