Ridgeon Group Pension and Life Assurance Scheme, Llangefni, Wales, insured £50 million ($69 million) in liabilities with Legal & General, confirmed a spokeswoman for Buck, adviser on the deal.
The transaction secured the benefits for approximately 230 retirees and 300 plan participants who are yet to retire.
Building materials supplier Ridgeon Group's trustees were also advised on the deal by law firms Eversheds Sutherland and Mills & Reeve.
"The company is delighted that the buyout has been secured for the benefit of the members and is grateful to Buck for its part in achieving it," Ian Northen, director at Ridgeon Group, the fund's plan sponsor, said in a news release.
The Buck spokeswoman did not provide further details, including the size of the pension plan.