Levine Leichtman Capital Partners Portfolio Company Blue Ridge Esop Associates Acquires Tax Benefits Plan Services Business Of Crowe
Aug 19, 2022•over 3 years ago
Acquiring Company
Blue Ridge ESOP Associates
Acquired Company
Crowe
Financial ServicesConsultingFinancial ServicesProfessional Services
Description
Blue Ridge ESOP Associates (“Blue Ridge”), a portfolio company of Levine Leichtman Capital Partners (“LLCP”), announced today that it has acquired substantially all of the Tax Benefits Plan Services business (the “BPS business”) of Crowe LLP. The addition of the BPS business further strengthens Blue Ridge’s position as the leading independent ESOP and 401(k) third party administration and recordkeeping firm.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed