Capella Inc., a third-party qualified plan administrator (TPA) based in Sioux Falls, SD, has agreed to merge with Retirement LLC–Series Two, an independent TPA based in Oklahoma City, OK. The transaction closed on January 2.
Established in 1999, Capella is the largest retirement plan consulting organization in South Dakota. It works with financial professionals, bank trust departments, CPAs and attorneys nationwide. Dana Hagen, who acquired the firm in 2011, will join the merged company’s executive team.
“This is our third merger in the last 12 months and we have no plans to slow down in 2014,” said Robert Krypel, CEO of Retirement LLC–Series Two.
“The TPA retirement business is very fragmented and it’s challenging for smaller firms to both grow their client base and provide high service levels,” said Hagen in a release.
Retirement LLC–Series Two is a TPA and record-keeper for more than 1,600 tax-qualified retirement plans ranging in size from one to 2,500 participants. Its corporate headquarters is in Northbrook, IL. Plans include defined benefit and cash balance, defined contribution, profit sharing, 401(k), ESOP, and 403(b) plans.
Terms of the transaction were not disclosed. Wallingford Partners, LLC advised Retirement, LLC–Series Two.
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