Pentec sale closes

The $3.5 million sale of Southington-based sister firms

Pentec

and Pentec Capital Management to

of New York closed this morning. Pentec, established in 1981, is a pension consulting and administration firm with 500 plans and $525 million in assets under administration. Pentec Capital Management manages approximately $180 million in assets provides investment services through Investors Capital Corporation. The deal gives NIM its first footprint in the Connecticut market.