Harbour Benefit Holdings, Inc. (“Harbour”), formerly known as Zenith American Holding, Inc., announced that it has acquired Maryland-based Benefits Administration, LLC, formerly known as Benefits Administration Corporation, Inc. (“BAC”). BAC joins Zenith American Solutions, Inc., Pacific Federal, LLC and Innovative Software Solutions, Inc. in providing services and technology to Taft-Hartley trust funds, trade associations, government entities and corporate employers across the United States. It is the second acquisition Harbour has completed in the past 12 months to expand its national footprint and extend its position as a leading U.S. third-party administrator and solutions provider.
Headquartered in Baltimore, Maryland, BAC specializes in health, welfare and retirement administration services to union trust organizations with a heavy presence in Maryland and Washington, D.C. Harbour’s addition of BAC to its family of companies expands its presence in the greater New England region and expands its client base.
“BAC and the Harbour Benefit family of companies share an impressive history of serving clients in this industry with more than 180 years combined. The companies also share a deep commitment to providing our customers with unmatched expertise and support,” said Craig Steffen, President, Harbour.
Joseph Swann, President of BAC, added, “As the BAC family joins the Harbour family, there is a high level of comfort and understanding that we are becoming part of a strong performing professional team, focused on customized solutions to meet and exceed our client expectations.”
Mr. Swann will continue to lead BAC and report to Craig Steffen. The acquisition is effective immediately. Financial terms are not being disclosed.