Blue Ridge ESOP Associates, a portfolio company of Levine Leichtman Capital Partners, has acquired the Tax Benefits Plan Services business of Crowe LLP.

The deal will strengthen Blue Ridge’s position as an independent ESOP and 401k third-party administration and recordkeeping firm. The firm acquires a BPS business with a history of strong performance in ESOP services and retirement plan services. The firm serves over 400 clients and 500 plans that are expected to transition into the Blue Ridge firm.

“We are excited to bring together Crowe’s BPS business and people with Blue Ridge,” said Bill Yoerger, CEO of Blue Ridge. “The two businesses are a great fit, as the technical expertise of the BPS business’ team and its personalized client-centric culture mirrors ours. We are grateful to our partners at LLCP for their valuable assistance in envisioning and executing this important transaction.”