Administrative services provider Zenith American Solutions has acquired Connecticut-based Insurance Programmers (IPI).
It is the third acquisition that Zenith has completed in the past 18 months to expand its national footprint and extend its position as a leading U.S. third-party administrator and solutions provider.
Headquartered in Wallingford, Connecticut, IPI specializes in health, welfare and retirement administration services to union trust organizations located across the East Coast. Zenith's acquisition of IPI expands the company's presence in the greater New England region and extends its client base, which includes Taft-Hartley trust funds, trade associations, government entities and corporate employers across the United States.
"IPI and Zenith share a long and impressive history of serving clients in this industry for more than 100 years combined. Our companies also share a deep commitment to providing our customers with unmatched expertise and support," said Art Schultz, chief executive officer, Zenith. "It's exciting to be part of Zenith's growth, and I look forward to continuing to enhance and expand our services to clients."
Lawrence Bourland, chief executive officer and president, IPI, added: "After more than 50 years as a family-owned business, IPI is taking another major step forward in providing our clients with best-in-class service. By joining the Zenith team, our clients will continue to enjoy our supreme service, powered by Zenith's unparalleled resources and industry expertise."
Mr. Bourland will continue to lead IPI and report to Mr. Schultz. The acquisition is effective immediately. Financial terms are not being disclosed.