Buffalo Business First named Russell Bond one of the Best Places to Work in 2021
In October, 2021, Russell Bond & Co., Inc., a Buffalo, NY-based insurance wholesaler and longtime Menke client, announced that they had agreed to become part of Jencap Group, one of the largest insurance wholesalers in America.
Gary Hollederer, President and COO of Russell Bond & Co., described the decision to join Jencap as being driven by a desire to expand the services and capabilities they offer their clients. “In order to stay relevant while remaining true to our core beliefs in an ever-evolving industry, it is essential that we align with an organization that embraces these values and could provide the resources, products and markets needed for the future,” he wrote.
Finding the right culture fit was an important element for the Russell Bond leadership. As Hollederer wrote in their announcement, they certainly found that at Jencap. “We can assure you that Jencap’s philosophy of ‘better together’ matches well with our principles and culture,” he said. “As we have since our founding in 1950, we will continue to be client focused, service driven, provide technical knowledge and diverse product offerings.”
Menke & Associates helped Russell Bond & Co. implement their ESOP in 2005, and we have been proud to provide them with administrative services ever since. Buffalo Business First named them one of their 2021 Best Places to Work, specifically citing their ESOP and the ways they supported their employees during the challenges of 2020.
Russell Bond’s successful acquisition is just the latest example of an ESOP company finding a new home with an organization that values what makes them exceptional. Companies looking to make strategic acquisitions are drawn to ESOP companies for a number of reasons, including their stability and their culture of employee ownership where employees are engaged and motivated to help their business thrive.
From all of us at Menke & Associates, congratulations to Russell Bond & Co. on this exciting new chapter in their ongoing success story.
To learn what an ESOP could mean for the future of your business, contact Menke & Associates today.
Menke & Associates, Inc. has helped over 3,500 companies successfully transition to employee ownership. Our holistic ESOP approach enables a positive outcome for the company, its employees and its shareholders. We believe ownership is powerful.
Phil DeDominicis is an ESOP strategist and M&A advisor who has guided 300+ companies through ESOP formations, financing, and transactions over 20+ years at Menke & Associates. He specializes in selling ESOP‑owned businesses to financial or strategic buyers and in helping ESOP companies acquire other businesses.
