Blue Ridge ESOP Associates, a Charlottesville, Va.-based provider of solutions for the administration and recordkeeping of Employee Stock Ownership Plans (“ESOPs”) and associated 401(k) plans, received an investment of undisclosed amount.
Levine Leichtman Capital Partners, a Los Angeles-based private equity firm, has invested in the company in partnership with the existing owners and the management team.
The company intends to use the funds to further strengthen its market position, product offering and accelerate its next stage of growth.
Founded in 1988 and led by Marie Minton and Greg Washburn, Blue Ridge ESOP Associates is a provider of technology enhanced solutions and services for the administration and recordkeeping of Employee Stock Ownership Plans (“ESOPs”) and associated 401(k) plans. The company serves a large and diversified client base of over 700 ESOP & 401(k) Plan Sponsors with over 175,000 total plan participants. Blue Ridge also has offices throughout the country.