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Private equity management firm acquires administrative services provider

Chicago-based private equity management firm Beecken Petty O'Keefe & Co. LLC has acquired Tampa, Fla.-based Zenith American Solutions Inc. from Water Street Healthcare Partners LLC.

Zenith American Solutions manages benefit plans as a third-party administrator serving more than 800,000 health plan members and dependents and more than 900,000 retirement plan participants for Taft-Hartley trust funds, trade associations, government entities and corporate employers.

There are no expected changes to Zenith American Solutions' management, branding or delivery of services performed.

Financial terms of the transaction were not disclosed.

Harris Williams & Co. and Waller Helms served as financial advisers to Zenith American in the transaction.