M&A Deal Summary

PCS Retirement Acquires ASPire Financial Services

On July 31, 2019, PCS Retirement acquired financial services company ASPire Financial Services from FTV Capital

Acquisition Highlights
  • This is PCS Retirement’s 1st transaction in the Financial Services sector.
  • This is PCS Retirement’s 1st transaction in the United States.
  • This is PCS Retirement’s 1st transaction in Florida.

M&A Deal Summary
Date 2019-07-31
Target ASPire Financial Services
Sector Financial Services
Buyer(s) PCS Retirement
Sellers(s) FTV Capital
Deal Type Add-on Acquisition

Target

ASPire Financial Services

St. Petersburg, Florida, United States
ASPire Financial Services LLC is a service provider of smart retirement solutions, serving advisors, plan sponsors and TPAs since 2002 with a conflict-free, open-investment retirement planning management system supporting all plan types [401(k), 403(b), 457, IRA including Payroll Deduction, HSA, Cash Balance, Defined Benefit, Non-Qualified]. Aspire provides a best-in-class technology-enabled portfolio of pre-defined or highly customizable smart retirement solutions with private-label branding options through its proprietary technology platform and strategic partnerships.

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Buyer(S) 1

Buyer

PCS Retirement

Philadelphia, Pennsylvania, United States
Category Company
Founded 2001
Sector Business Services
DESCRIPTION

PCS Retirement is a conflict-free retirement services platform automating the sale, design, valuation and management of retirement plans. PCS offers its services to over 800 channel partners to deliver a customizable platform ideally suited for registered investment advisors, independent broker dealers and investment management firms serving the retirement ecosystem. PCS Retirement was founded in 2001 and is based in Philadelphia, Pennsylvania.

DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Florida) 1 of 1
Country (United States) 1 of 2
Year (2019) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-05 Alliance Benefit Group Rocky Mountain

Midvale, Utah, United States

Alliance Benefit Group Rocky Mountain provides a comprehensive, independent, and conflict-free retirement plan platform for financial advisors, TPAs, plan sponsors, and participants. Alliance Benefit Group Rocky Mountain is based in Midvale, Utah.

Buy -

Seller(S) 1

SELLER

FTV Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1998
PE ASSETS 6.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

FTV Capital is a multi-stage private equity firm focused on providing capital to high-growth companies. FTV generally seeks to invest in software, business services, and financial services companies which enable financial institutions to expand and to operate more efficiently. Investment proceeds are typically used to fund rapid organic growth, provide shareholder liquidity, pursue add-on acquisitions, or acquire divestitures. FTV prefers to act as the lead or control investor and targets equity commitments of $10 to $85 million per transaction. FTV Capital was established in 1998 and was formerly known as FTVentures. FTV Capital is based in San Francisco with an additional office in New York City.

DEAL STATS #
Overall 41 of 61
Sector (Financial Services) 7 of 12
Type (Add-on Acquisition) 29 of 38
State (Florida) 1 of 1
Country (United States) 38 of 54
Year (2019) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-29 OpenSesame

Portland, Oregon, United States

OpenSesame is an eLearning platform that offers a comprehensive online catalog of curated employee training courses. OpenSesame was founded in 2011 and is based in Portland, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-20 CloudFactory

Reading, United Kingdom

CloudFactory engages in combining people and technology to provide a workforce in the cloud for machine learning and core business data processing. CloudFactory managed teams have experience with 150+ AI projects and can process data with high accuracy using virtually any tool. CloudFactory was founded in 2010 and is based in Reading, United Kingdom.

Buy -
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