Empowered Ventures Acquires Benoure Plumbing, Heating & Air Conditioning

Benoure will become employee owned by joining Empowered Ventures Holding Company

CARMEL, Ind., April 2, 2024–(BUSINESS WIRE)–Empowered Ventures, a 100% employee-owned holding company based in Carmel, Indiana, is pleased to announce the acquisition of Benoure Plumbing, Heating & Air Conditioning (Benoure), a leading residential and commercial engineering contractor based in South Burlington, Vermont.

Benoure was founded in 1966 by Robert Benoure Sr. and has been led by President Brad Benoure since 2018. Benoure has grown to become the largest company in Vermont providing both residential and commercial plumbing, heating and air conditioning services. With over 80 licensed plumbers and HVAC technicians on-site and a talented back-office team, Benoure handles all aspects of contract work consistently, reliably, and with a long-standing reputation built on excellence.

“I am thrilled to welcome the entire Benoure team to Empowered Ventures,” said Chris Fredericks, President and CEO of Empowered Ventures. “As an employee-owned holding company, we help business owners by offering a relatively simple buyout process that results in employees joining our diversified ESOP. We are incredibly grateful to Brad for trusting us with the future of Benoure and look forward to working with him and his partners.”

“The entire Benoure family has taken extreme pride in building this company and serving this community since 1966. “So selling Benoure was a bittersweet decision,” shared Brad. “I am pleased to have found a buyer in Empowered Ventures who I am confident will continue the legacy my family has built. They will look after the people who have helped make Benoure what it is today for many years to come.” I look forward to leading Benoure into the future and working with the team at Empowered Ventures to To take Benoure to the next level.”

Joining Empowered Ventures strengthens Benoure's commitment to excellent service and quality. With the acquisition, Benoure's employees will join the Empowered Ventures ESOP, which wholly owns Empowered Ventures and its operating companies. Empowered Ventures provides strategic support and resources to support Benoure's continued growth and success.

The story goes on

“When employees become owners, we find that they become even more engaged and invested in the success of the company,” said Chris. “Succession planning can be an overwhelming process. Working with Empowered Ventures allows an owner to sell their business while placing it confidently in the hands of those who know it best – an ideal scenario for a company like Benoure. We are thrilled that Benoure will continue to build on its incredible history and remain a leading contractor for residential and commercial plumbing, heating and air conditioning projects for decades to come.”

To learn more, visit Benoure at www.benoure.com and Empowered Ventures at www.empowered.ventures.

About Empowered Ventures

Empowered Ventures was founded in 2020 by leading fabric supplier TVF, which switched to an Employee Stock Ownership Plan (ESOP) in 2010. Empowered Ventures is an employee-owned holding company based in Carmel, Indiana. Empowered Ventures helps business owners with succession planning by providing a long-term home for great companies and employees. Empowered Ventures is not a fund, has no external investors and uses its own capital to finance acquisitions. All employees of companies owned by Empowered Ventures participate in the employee stock ownership program.

About Benoure Plumbing, Heating and Air Conditioning

Founded in 1966, Benoure is an engineering company based in South Burlington, Vermont. With expertise in commercial and residential construction, design-build and energy efficient systems, Benoure has won numerous awards as an industry leader. The company is considered the first choice contractor for quality, safety, accuracy and on-time delivery. Benoure's talented and dedicated team takes great pride in approaching every job and customer relationship as a long-term partnership, always keeping the customer's best interest in mind and delivering first-class quality of work.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240402808330/en/

contacts

Contact for Empowered Ventures:
Chris Fredericks
317.249.8722
[email protected]

Contact for plumbing, heating and air conditioning in Benoure:
Brad Benoure
802.864.7156
[email protected]

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