FOR IMMEDIATE RELEASE
February 19, 2014
Richmond, VA –Transact Capital is pleased to announce the acquisition of Health Savings Administrators, LLC (HSA) by Bluff Point Associates. Transact Capital Securities served as the exclusive financial advisor to HSA.
About Health Savings Administrators
Health Savings Administrators was formed in 1996 by John Vellines and Pat Jarrett and offers Vanguard® no-load mutual funds to its health savings account holders nationwide. Health Savings Administrators was chosen as a “Clark Howard HSA Investment Pick” in 2010 and named by Kiplinger as the “Best Health Savings Account for Investors.” Bluff Point Associates is a private equity firm based in Westport, Connecticut that invests in growth companies in the financial services and healthcare industries.
Jim Sowers, a Managing Director at Transact Capital that managed the transaction, commented: “Health Savings Administrators is well positioned as the leading independent administrator of HSAs and is benefiting from the shift to high deductible health insurance from the Affordable Care Act. Bluff Point fully appreciated this potential and believed the company was a perfect fit.”
Transact Capital Securities, LLC, a registered Broker-Dealer and member of FINRA and SIPC, is owned by Transact Capital Partners, LLC. Transact Capital Partners is a mergers and acquisitions advisory firm headquartered in Richmond, Virginia with offices in Roanoke, Virginia; Lexington, Kentucky; and Orlando, Florida. Transact Capital Partners focuses on selling privately held companies with less than $100 million in revenues. With extensive experience in owning, running, or investing in private companies or divisions of public companies, the firm’s principals are able to help many business owners exit their companies or explore other opportunities.
To learn more about this transaction, please call Jim Sowers at 804-323-6868 ext. 110 or send an e-mail to Jim at Jim@TransactCapital.com.
