Press Release

Blue Ridge ESOP Associates Acquires Benefit Concepts Systems, Inc.

Issued by Blue Ridge ESOP Associates

July 23, 2020

July 23, 2020 -- Blue Ridge ESOP Associates (“Blue Ridge”) is pleased to announce it has acquired Benefit Concepts Systems, Inc. (“Benefit Concepts Systems”). The acquisition allows Blue Ridge to continue as the leader in ESOP and 401(k) administration and assist a larger client base in effectively managing their plans. The acquisition bolsters Blue Ridge’s efforts to grow through strategic acquisitions and partnerships in the ESOP and 401(k) markets.

Dave Weinstock, the President of Benefit Concepts Systems, said, "We are very excited about being acquired by Blue Ridge. Don Israel and I built a successful firm with loyal clients because we offered close personal service. I handpicked Blue Ridge because they have offered the most personalized service to their clients for over 30 years too. I will continue to be very involved with the combined business and Stephanie Urban will help ensure continuity for our clients as a future employee of Blue Ridge."

Tom Roback, CEO of Blue Ridge, added, “We have always admired Benefit Concepts Systems and believe the acquisition perfectly aligns with our go forward strategy of completing strategic acquisitions and partnerships within the ESOP and 401(k) administration markets. We welcome their clients with open arms and look forward to leveraging our domain expertise and technology to provide these clients with our best-in-class service.”

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