Target Company Overview

July Business Services, LLC ("JULY"), headquartered in Waco, TX, is a prominent national provider specializing in 401(k) plan services tailored for small to mid-sized employers. As of May 30, 2025, JULY has successfully completed its acquisition of Employee Incentive Plans, Inc. ("EIP"), marking a significant milestone as the seventh acquisition within a two-year period. This strategic move is part of JULY’s broader initiative to drive growth through acquisitions that are culturally aligned, enabling the addition of top-tier talent and innovative capabilities to their expanding platform.

JULY has established itself as a tech-enabled retirement services provider over the past three decades, supported by an in-house software development team dedicated to creating proprietary tools aimed at streamlining plan administration and enhancing the participant experience. The acquisition of EIP, which has earned a solid reputation for delivering excellent service and possessing a knowledgeable staff, aligns closely with JULY’s focus on client service, built upon personalized attention and operational excellence.

Industry Overview

The retirement services industry has seen tremendous growth in recent years, adapting to the ever-changing landscape of financial management and regulatory requirements. In many countries, including the United States, the demand for retirement plans and services has steadily increased as more companies recognize the value of offering robust retirement benefits to attract and retain talent. Technological advancements have played a crucial role in shaping the industry, as they provide firms with tools to streamline processes and improve client engagement.

Within this sector, smaller firms, like JULY, are gaining traction by offering customized solutions and embracing technological innovation. This trend has allowed these companies to compete effectively with larger providers while catering specifically to the needs of small to mid-sized businesses, which often require flexible and accessible retirement planning solutions.

The U.S. market is characterized by a range of service providers that cater to diverse client needs. Offering a blend of traditional advisory services along with new-age technological integrations, firms are pivoting towards holistic retirement strategies that prioritize client experiences. In this context, JULY’s acquisition of EIP positions it to leverage existing synergies while enhancing its offerings in a highly competitive marketplace.

Furthermore, the integration of AtlasMark Financial, Inc.’s ("AFI") retirement plan advisory practice with Expand Financial, LLC ("EXPAND"), a subsidiary of JULY, strengthens JULY’s commitment to fiduciary-driven investment management. This merger is set to enhance their capabilities in managing retirement plan investments effectively, thereby positioning JULY favorably within the industry landscape.

Rationale Behind the Deal

The acquisition of EIP represents a strategic initiative for JULY, driven by the desire to foster growth while maintaining alignment with their corporate culture. By integrating EIP's high-quality service capabilities and experienced workforce, JULY anticipates enhancing the overall client experience while simultaneously expanding its market presence.

Moreover, merging EIP with AFI's advisory services distinctly positions JULY to deliver superior investment management solutions grounded in rigorous fiduciary standards. This strategic acquisition will not only help JULY broaden its reach but will also provide its clients with expanded resources and capabilities.

About the Investor

JULY stands out as a leader in the retirement services industry, backing its offerings with robust technology solutions and a high-touch service model. Serving more than 10,000 retirement plans with approximately $18 billion in assets under administration, JULY’s strategic approach prioritizes the accessibility of workplace plans for small businesses. This commitment is bolstered by their dedication to simplifying the complexities of retirement plan setups and operations.

Alongside JULY, EXPAND embodies a modern approach to financial services. It emphasizes growth and client-centric solutions tailored to independent advisors and firms. By merging expertise with purpose-driven technology, EXPAND enables partners and clients to navigate their financial landscapes more efficiently.

View of Dealert

This acquisition is viewed favorably within the financial services industry, primarily due to the cultural and strategic synergies exhibited between JULY and EIP. The alignment in service philosophy fosters enhanced client experiences, indicating a promising future for the combined entity. As JULY integrates EIP, it is likely to see improvements in customer satisfaction, which could ultimately translate into increased client retention and growth.

Furthermore, the strategic focus on fiduciary-driven management through EXPAND positions JULY to stand out in an increasingly competitive market. The combination of JULY's technological prowess with the high service standards of EIP showcases a commitment to delivering value that resonates well with clients.

In conclusion, this deal not only complements JULY’s growth strategy but also reinforces its reputation as a forward-thinking player in the retirement services space. Given the strong fundamentals driving the business and the strategic partnerships formed through this acquisition, JULY is well-positioned for sustained growth and success.

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