BSC Ventures becomes 100% Employee Owned
January 26, 2016
For Immediate Release – January 26, 2016
Contact: John Draper, BSC Ventures Holdings, Inc. (540)265-6218
BSC VENTURES BECOMES 100% EMPLOYEE OWNED
Roanoke, VA – Double Envelope and its parent company, BSC Ventures Holdings, Inc. (www.bscventures.com), are proud to announce that it has become a 100% employee owned company through the creation of a new ESOP (employee stock ownership plan).
“We’re excited to become a 100% employee-owned business,” said Brian Sass, Chairman and CEO of BSC Ventures Holdings. “Our commitment to exceptional quality and service has driven our growth, and the entrepreneurial spirit fostered throughout the Company has been the cornerstone of our success. Double Envelope has grown to become the third largest custom envelope manufacturer in the United States, and the transition to a 100% employee-owned company is a natural extension of what enabled us to become one of the strongest, most competitive, and financially sound organizations in our industry,” stated Sass.
Through BSC Ventures Holdings’ ESOP retirement plan, employees will earn shares in the business while working for the Company. The ESOP benefit is funded entirely by Company contributions and requires no out-of-pocket investment by employees. It enables all employees to share in the firm’s long-term growth and success.
“Becoming a 100% employee-owned business secures the Company’s future for our employees, customers, suppliers and the local communities where we operate,” Sass commented. “We have always reinvested in employees and technology to better serve our customers. The ESOP ensures our ability to continue serving our customers as an independent enterprise while allowing all of our employees to share in the Company’s success.”
An employee stock ownership plan (ESOP) is a retirement plan that enables employees to own the firm where they work through a qualified trust. Established in 1974, there are about 7,000 ESOP businesses in America, employing 9 million employee owners.
About BSC Ventures Holdings
Headquartered in Roanoke, Virginia, BSC Ventures Holdings has 450 employee-owners with manufacturing facilities in Gainesville, FL, Baltimore, MD, Angola, IN and Roanoke. Its operating subsidiaries include Double Envelope, Convertagraphics and Champion Printing, which are market leaders in the transactional and direct mail industries producing more than 7 billion custom envelopes per year.
For more information, please contact John Draper, BSC Ventures Senior Vice President of Sales at 540-265-6218 or visit our website www.bscventures.com