Rainier Partners invests in Welfare & Pension Administration Service

Rainier Partners , a private equity firm focused on lower middle-market service businesses, has announced its investment in Welfare & Pension Administration Service (WPAS), a third-party administrator specializing in multi-employer benefit plan administration.

Founded in 1953 and based in Mercer Island, WA, WPAS has a long-standing reputation for providing comprehensive trust administration services to Taft-Hartley multi-employer benefit plans. With over 450,000 active members and their families relying on its expertise, WPAS stands out as one of the largest TPAs in its category. The partnership with Rainier Partners aims to expand WPAS’s reach, enabling it to support more multi-employer trusts nationwide.

Rainier Partners, with over $375 million in assets under management, brings expertise in financial and operational strategy to its portfolio companies. This investment is expected to bolster WPAS’s capacity to navigate the increasingly complex landscape of benefits administration and continue delivering exceptional service to its clients.