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Farlie Turner Gilbert Completes Sale of Northwest Plan Services, Inc., a Portfolio Company of Pine Tree Equity Partners, LLC

FORT LAUDERDALE, Fla. (May 31, 2016) – Fort Lauderdale‑based investment banking firm, Farlie Turner Gilbert & Co., ("FTG") is pleased to announce the sale of Northwest Plan Services, Inc. and affiliates (“NWPS”), a portfolio company of Pine Tree Equity Partners, LLC, a private equity firm based in Miami, Florida. In a transaction that closed on May 20, 2016, NWPS was sold to WestView Capital Partners, a middle market private equity firm based in Boston, Massachusetts. Farlie Turner Gilbert served as the exclusive financial advisor to Pine Tree and NWPS. The transaction was led by Mike Turner, a Managing Director at Farlie Turner Gilbert, in addition to Daniel Vetrano and Keita Iwabuchi. Terms of the transaction were not disclosed.


Based in Seattle, Washington, NWPS is a leading independent recordkeeper and administrator of retirement plans. The Company provides a comprehensive suite of services for 401(k), profit sharing, defined contribution plans, defined benefit pension plans and other plan types. In addition to recordkeeping, administration, compliance and participant services, the Company provides consulting, employee communication and actuarial services to a client base ranging from small to medium sized companies having 50 to 500 employees to large, S&P 500 clients with tens of thousands of employees. The Company maintains a presence on both the West and East coasts and is expected to provide services in 2016 to more than 220,000 participants with over $17.0 billion in asset value.


“Farlie Turner Gilbert provided excellent guidance and advice throughout the transaction process,” stated Tim Wulfekuhle, NWPS’s President and Chief Executive Officer. “Over the last four years, we enjoyed our partnership with Pine Tree Equity, which enabled us to expand our geographic reach, build out our infrastructure and achieve significant growth. As CEO, I am excited to continue leading the company with our new partner, WestView Capital, who shares our vision of building a best‑in‑class service provider to the retirement plan sponsor community.”


“We really enjoyed working with NWPS and Pine Tree on this transaction,” commented Mike Turner. “Under Pine Tree’s ownership, NWPS expanded the scope of their footprint to the East coast, built out their management team and invested in technology and customer support infrastructure to serve their growing client base. They are really well positioned to continue their dynamic growth going forward,” he added.


About Farlie Turner Gilbert & Co.

Farlie Turner Gilbert & Co., LLC, and its affiliate Bayshore Partners, LLC, a broker-dealer registered with FINRA, provide merger and acquisition, private placement and financial advisory services to middle market companies out of offices located in Fort Lauderdale, FL and Raleigh, NC.   

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