We are advising Vestwell on the transaction

Davis Polk is advising Vestwell Holdings Inc. on its acquisition of Accrue 401k, Inc. After close, nearly 30,000 retirement plans and 350,000 savers are expected to transition to the Vestwell platform. The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close in early 2026.

Vestwell is a financial technology company that makes it easier for more Americans to save for life’s most important moments, from retirement to education and healthcare. Founded in 2016, Vestwell provides a comprehensive suite of workplace savings solutions, including retirement plans, student loan repayment benefits and specialized accounts for education, emergencies and disability savings.

Accrue 401k is an entity created to manage the Guideline 401(k) plans carved out of Gusto’s recent $600 million acquisition of Guideline, a company that offers a simple, affordable way to save for retirement through low-cost, highly automated 401(k) plans.

The Davis Polk corporate team includes partner Evan Rosen and Jared Fine, counsel Kris D. Desrosiers and associate Leon Ren. Partners Pedro J. Bermeo and Byron B. Rooney are providing capital markets advice. Partner Nikolaus Caro and associate K. Oliver H. Schauman are providing sponsor finance advice. Partner Corey M. Goodman is providing tax advice. Partner Kyoko Takahashi Lin is providing executive compensation advice. Partner Pritesh P. Shah is providing intellectual property advice. Partner Gregory S. Rowland is providing investment management advice. All members of the Davis Polk team are based in the New York office.

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