TSA says it has reached a definitive agreement to acquire Great American Plan Administrators, Inc. (Great American Benefit Administrators in CA) (GA Plan), a subsidiary of Great American Financial Resources, Inc. of Cincinnati, Ohio. According to the announcement, the acquisition will enhance TSA Consulting Group’s leadership position and overall market share while providing the potential for significant revenue and expense synergies.
Under the terms of the all-cash stock-purchase agreement, it is expected that TSA Consulting Group will acquire 100% of the outstanding stock of GA Plan and assume all contractual obligations and services provided by GA Plan effective July 1, 2011. The addition of GA Plan’s clients to TSA’s will result in over 2000 public school districts and colleges in 38 states receiving services under TSA’s Compliance Edge program.
TSA Consulting Group has been providing retirement plan administration services to public education employers since 1996. Their trademarked program of services combines standard deliverables such as plan documents, employer and participant services and recordkeeping, as well as non-standard extras including tailored employee communications components and web-based transaction and remittance processing. “Our commitment and success in this market is evidenced by the number of long-term clients that continue to place their trust in our services,” said Joe Rollins, President/CEO of TSA, in a press release.
The company’s list of clients includes 11 of the top 25 largest school districts in the U.S. and represents over 950,000 employees. “We are excited about this opportunity and confident in our systems and capacity to deliver truly independent plan administration services to a greater number of public education employees,” remarked Steve Banks, Chief Administrative Officer of TSA.
According to the announcement, TSA is not affiliated with any investment product provider and does not offer investment advice. More information is available at http://www.tsacg.com.