Press Release

Blue Ridge ESOP Associates makes majority investment into Workplace Development Inc.

Issued by Blue Ridge ESOP Associates

Feb. 22, 2023

Workplace Development Inc. will become a Blue Ridge Company

Charlottesville, VA -- Blue Ridge ESOP Associates, the nation’s largest independent ESOP administration and recordkeeping firm, announced today that it has made a majority investment into Workplace Development Inc., the ESOP industry’s leading communication and education firm.  Financial terms of the transaction were not disclosed.

 “We’re excited to integrate Workplace Development’s business and people with Blue Ridge,” said Bill Yoerger, Chief Executive Officer of Blue Ridge. “It’s a great fit for our organization, as the Workplace Development’s personalized client-centric culture mirrors ours.”

 “The Workplace Development practice is a recognized leader in the ESOP space delivering professional, customized, high touch communication services,” said Tom Roback, President of Blue Ridge. “Together we can provide seamless access to the full range of services that our clients need to have a successful vibrant ESOP.”

 Jim Bado, President of Workplace Development explains that joining forces will help expand their communication services. “We have partnered with the great people at Blue Ridge ESOP Associates over the years on projects,” notes Bado. “This allows us to continue serving ESOPs as we always have. Now, we can help even more ESOP companies enjoy the employee retention and performance advantages that effective ESOP communication brings.”

 About Blue Ridge ESOP Associates

Founded in 1988, Blue Ridge ESOP Associates is the largest independent ESOP and 401(k) Third Party Administration and Recordkeeping firm. Blue Ridge provides high quality, technically proficient independent plan administration and repurchase obligation forecasting. Blue Ridge administers over 1500 ESOP company clients servicing over 525,000 participants along with thousands of 401(k) plans. The Blue Ridge family of companies employs over 175 talented professionals and is headquartered in Charlottesville, Virginia. https://www.blueridgeesop.com

 About Workplace Development Inc.

Workplace Development Inc. are national leaders in the employee ownership community and provide innovative ESOP communication, training, and ownership culture services that maximize the impact of having an Employee Stock Ownership Plan (ESOP). Workplace Development Inc. associates have been serving ESOPs for more than 33 years. More than 1,100 ESOP companies, including many of the most successful in the nation, have used their services to create informed, engaged employee owners. https://workplacedevelopment.com

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