Morneau Shepell has acquired Mercer Canada's pension and benefits outsourcing business.
Through the acquisition, Morneau Shepell gains more than 250 employees and about 60 clients, including some major multinational companies. These clients represent about $25 million in additional annual revenue to the company.
"Today's acquisition is in line with our stated strategy to grow our business profitably through acquisitions that complement our existing service offerings or expand our market presence," said Alan Torrie, president and CEO of Morneau Shepell. "This acquisition is a natural fit for our company.”
Mercer looks forward to continuing its focus on pension consulting and supporting clients in the small pension plan third-party administration segment, said Jacques Théorêt, head of the Mercer Canada/Latin America region.
"Our goal was to ensure that the clients of our outsourcing business transition to an organization with a strong track record of outsourcing experience and leading edge technology solutions."
Morneau Shepell said it expects to invest between $20 million and $25 million, over a three-year period, in systems and service improvements to support the acquired clients.
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