Lee Equity Partners completed the acquisition of a majority stake in PCS Retirement from LLR Partners..

Lee Equity Partners, a growth-oriented middle market private equity firm, completed the acquisition of a majority stake in PCS Retirement, a retirement plan recordkeeper focused on the ERISA and Non-ERISA markets, from LLR Partners, a private equity firm. Financial terms were not disclosed. "We established PCS Retirement with the goal of building a next generation recordkeeper with no hidden agenda. Our vision for complete transparency has allowed us to be a leader in the retirement plan industry with significant momentum and opportunities ahead. We are very appreciative of LLR's partnership and are excited to welcome Lee Equity as our financial sponsor and Scott David as CEO. Lee Equity deeply understands the value of our employee-centric business and appreciates our tremendous growth potential, and I'm confident that the addition of Scott will lead us well as we evolve into our next chapter," Mark Klein, PCS Retirement Founder.