BOCA
RATON, Fla., May 16, 2024
/PRNewswire/ -- Slavic401k, a retirement savings industry leader in
multiple employer 401(k) plans (MEPs), announced today the
completion of a strategic investment by TriSpan LLP, a private
equity firm investing in middle market companies to accelerate
growth and performance. With the investment, Slavic401k
expands its capabilities and strengthens its continued commitment
to helping individuals reach their retirement goals. The terms of
the investment have not been publicly disclosed.
"We are delighted to partner with John Slavic and his team,"
said TriSpan partner Baudoin Lorans.
"TriSpan shares Slavic401k's vision and understands the
opportunities in the retirement savings industry. We are highly
supportive of Slavic401k's strategic growth initiatives and the
three core values that have been the foundation of the company's
success: communication, collaboration, and culture."
"Our company operates at the intersection of innovation and
retirement, and we are constantly looking for ways to improve our
products and services to provide our clients and participants with
the best possible experience," says John Slavic, founder and CEO,
Slavic401k. "Our partnership with TriSpan will allow us to continue
to invest heavily in cybersecurity, enabling us to expand our
commitment to educating our participants, employees, and partners
on how to protect their data and assets from cyber threats. Our
efforts have been recognized by BitSight, the leading provider of
security ratings, who awarded us a score of 800, which is in the
top 1% of financial service companies."
In addition to cybersecurity, the partnership between Slavic401k
and TriSpan will expand Slavic401k's SECURE 2.0 Tax Credit
capabilities, which is expected to dramatically increase new 401(k)
plan formation and bring retirement savings benefits to thousands
of American workers currently without access to retirement
resources to save for their future.
"With Social Security benefits expected to run dry by 2035
without congressional intervention, it has never been more
important for American workers to take control of their future,"
says John Slavic. "By helping make 401(k) plans affordable for
small and medium-sized businesses, we can provide access to
retirement savings accounts to thousands of workers who currently
don't have workplace sponsored plans."
McHenry Consulting acted as advisor to Slavic401k in this
strategic investment.
About Slavic401k
Slavic401k is an innovative leader in retirement services and top
provider of 401(k) plans to more than 15,000 employers and 250,000
employees across the U.S., with over $13B in assets under management and growing.
Established over 36 years ago by John Slavic (CEO), Slavic401k
specializes in multiple employer and pooled employer 401(k) plans
and offers a 401(k)-administration platform that is tailored to
meet the unique needs of PEOs, financial advisors, associations,
and service bureaus. For more information, please visit
Slavic401k.com.
About TriSpan, LLP
Founded in 2015, TriSpan, LLP is a private equity firm with offices
in New York and London that invests in middle market companies
in North America, Europe, and the United Kingdom. TriSpan, LLP is committed to
creating value through using a combination of deep operational and
financial resources to accelerate growth and drive improved
performance. Since inception, the firm has completed 22 platform
investments, as well as over 80 bolt-on acquisitions for its
portfolio companies. For more information, please
visit Trispanllp.com.
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SOURCE Slavic401k