Alantra advised ABG Capital on sale of Inspira to Millennium Trust



Jan 2017
Sell-side advisory

Alantra is pleased to announce that it has advised Ad-Base Group, Inc. (“ABG Capital”) on its sale of InspiraFS, Inc. (“Inspira”) to Millennium Trust Company LLC, a Parthenon Capital Partners portfolio company. The transaction closed in December 2017 and the deal value was not disclosed.

Founded in 2007 and based in Pittsburgh, PA, Inspira delivers branded and private-label recordkeeping solutions for individual retirement accounts (IRAs). Inspira provides retirement plan sponsors, financial institutions, corporations, and third-party administrators (TPAs), with a cost-effective IRA recordkeeping solution that leverages the company’s innovative back-office technology platform. Inspira has more than 125,000 IRAs on its platform with more than $500 million in assets under administration (AUA) and has consistently been named to Inc. 5000’s annual list of America’s fastest growing companies.

Jeff Tapolci, CEO of ABG Capital, said in a company statement, “Millennium is a premier name in the industry and is the perfect home for Inspira. Without question, the combination with Millennium will create great opportunities for both Inspira’s clients and its employees.”

“Parthenon and Millennium had shown interest in Inspira from our first contact,” said John Emery, Head of Alantra’s Technology group. “While Inspira’s profile made them an attractive target for both private equity and strategic acquirers, the company’s shareholders believed Millennium was the best acquirer for its team and technology platform. In the end, we had a highly competitive process and were able to reach an agreement at a premium valuation. We look forward to working with more high growth companies in the financial technology sector as this market continues to consolidate,” he concluded.

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