The deal closed September 30, 2011. Bert Nester, Founder and President of APS, remains with the firm and joins Tegrit Group as the Managing Director of its Columbus office.
The combination of services with APS provides regional synergies with Tegrit’s wholly-owned subsidiary, Summit Retirement Plan Services.
Michael Spickard, CEO of Tegrit Group and Summit Retirement Plan Services, stated in the announcement: “We’ve been doing business in Columbus for over 10 years, and we are extremely pleased to now have a local presence with the completion of this strategic acquisition. We look forward to providing growth opportunities for our Columbus staff, expanding our Columbus client base and more directly marketing our actuarial consulting expertise in a growing major metropolitan area, which aligns with our long-term growth strategy. We expect to make additional acquisitions of third party administrators (TPA) after the integration of APS has been completed.”
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