Beneco Changes Operational Structure to Better Serve Clients; Acquisition by Alpine Investors already producing results
Scottsdale, Arizona (May 4th, 2015)- Beneco announced an internal promotion effective immediately, signaling a serious restructuring to build better ways to help Prevailing Wage contractors deliver benefits.
Kristy Willenbrink has been promoted from Director of Account Relations to Vice President of Operations. Kristy held the former position, personally overseeing many of the major Beneco plan sponsor accounts. Her personal relationships combined with her FINRA Series 6 & 63 certifications will help clients in the Beneco Plan stay abreast of evolving industry compliance standards while remaining competitive.
“While thousands of contractors use a bona fide benefit plan to offer cost-effective health and retirement plans, many overlook the complex administration required to ensure compliance. Frequently, they rely on a broker or other intermediary to handle compliance on their behalf or miss important filings altogether,” said Ben Petro, Beneco’s Chief Executive Officer and head of the new management team brought in by Alpine-Investors.
Petro continued, “At Beneco, we have a team of experts dedicated to understanding the complex nuances of prevailing wage and compliance, so our clients can focus on their business. Kristy’s promotion demonstrates how we’re investing in expertise and systems that remove organizational obstacles—so we can focus on the people we serve—American workers and their families.”
It’s been one year since Alpine Investors acquired the operating entities of Beneco. The restructuring of the company—which began with the management team—has been thoughtful, thorough and welcomed by many of their long-time plan sponsors.
“Beneco has always gone to great lengths to understand our unique needs,” commented Steve Biondi, the president of Biondi Paving in California. “They understand that we aren’t just building roads, but a legacy in our work, our people, and the community we live in. I look forward to their commitment in delivering enhanced value added services.”
Beneco has spent over twenty-five years partnering with contractors all over the United States to help them build their businesses by providing benefits on Prevailing Wage projects under the Davis Bacon Act and Service Contract Act regulations. Beneco is always building new ways to improve services and the returns they yield their members and their families. More about the people and projects Beneco serves at Beneco.com
Alpine is a values-driven private equity firm focused on investing in founder-owned and purpose-driven companies who can benefit from Alpine’s long-term perspective. Alpine’s team consists of former CEOs, consultants and private equity professionals, all of whom share a passion of building companies through unwavering character, improvement, honesty and candor. More at Alpine-Investors.com