Zenith American Solutions Acquires Benserco
Release date: 12/15/2015
TAMPA, Fla. – December 15, 2015 – Zenith American Solutions, Inc.® (Zenith), a leading third-party benefits administrator, announced today that it has acquired Benserco, Inc., a company specializing in Taft-Hartley benefit plan administration. The acquisition expands Zenith’s national presence and strong base of clients. The company is continuing to pursue targeted acquisitions that support its goal of building Zenith into a premier national service provider.
Zenith currently administers benefits to nearly 2 million employees, retirees and dependents on behalf of multi-employer Taft-Hartley trust funds, trade associations, government entities and corporate employers. Since its founding in 1944, the company has steadily grown to serve an increasing number of clients. In 2008, Zenith partnered with Water Street Healthcare Partners, a strategic investor focused exclusively on the healthcare industry, to accelerate its growth. By joining forces with Benserco, Zenith bolsters its presence in the Northeast and offers complementary solutions to a larger group of clients.
“Bringing together Benserco and Zenith was a great opportunity. Our companies are closely aligned with our offerings and our commitment to providing clients with outstanding service,” said Art Schultz, chief executive officer, Zenith American Solutions. “We are excited to work with Benserco to identify new ways to provide greater value to our clients in today’s increasingly complex regulatory environment.”
Effective immediately, all three of Benserco’s companies, including Benserco, Benefit Services of PA, Inc. and Dentsco, Inc., become part of Zenith American Solutions. Lucille Hart, who has served as president of Benserco, will continue to lead the organization and report to Mr. Schultz. “We are very pleased to partner with Zenith. It has an outstanding reputation for offering high-quality services and shares our values of going above and beyond to serve its clients,” said Ms. Hart. “I look forward to leveraging our combined expertise and capabilities to support employees participating in the Taft-Hartley plans we serve.”
About Benserco, Inc.
Headquartered in Englewood Cliffs, New Jersey, Benserco, Inc. has been providing third- party administration services since 1966. The company specializes in administering Taft-Hartley benefit plans, including pension, health, dental, vision, legal services, training and apprentice and vacation plans. Benserco also houses Benefit Services of PA, Inc., which specializes in third-party claims administration, and Dentsco, Inc., which designs and administers dental programs. For more information, visit benserconj.com.
About Zenith American Solutions
Zenith American Solutions, Inc. (Zenith) has been providing high-quality administrative services since 1944. With 33 offices across the country, Zenith manages benefit plans as a third-party benefits administrator (TPA) serving over 700,000 health plan members and dependents, and over 800,000 retirement plan participants for Taft-Hartley trust funds, trade associations, government entities and corporate employers. Zenith American Solutions is a company of Water Street Healthcare Partners, a strategic investor focused exclusively on healthcare. For more information, visit www.zenith-american.com.