Scarborough-based actuary firm acquired
Actuarial Designs & Solutions Inc., with 19,000 retirement plan participants, has been acquired by a Rochester, N.Y., firm.
ADS, which is based in Scarborough, provides retirement plan consulting, administration and actuarial services for various retirement plans.
The buyer is EPIC Advisors Inc., which provides a variety of services for companies that offer retirement plans. It is a wholly owned subsidiary of NBT Financial Services Inc., a subsidiary of NBT Bancorp Inc.
“This is an exciting addition to our company,” EPIC President Manny Marques said in a press release on Tuesday. “ADS is built on a group of highly specialized, long-term and dedicated employees. We are thrilled to add their expertise and experience to our team.”
ADS will operate as a standalone business, retaining its staff, business name and location. Joan McCabe will continue in her role as president of ADS, and Tony Ornatek will continue to lead the actuarial services of the business.
Terms of the deal were not disclosed.
Most Recent
Most Recent
Comments