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Creating connections is essential to building a community. It’s even more important when the people you’re trying to connect with aren’t in the same location. Businesses and companies have always found geographic distance to be a challenge to building a really great community-oriented culture. At Empowered Ventures, the same challenge holds true, which is why we decided to start Empowered Owners, the podcast that takes you inside Empowered Ventures.
In each episode, CEO Chris Fredericks will have a discussion with one of our employees to discover and highlight their distinct personalities, perspectives, and skills while also keeping you in the loop with exclusive news, updates on company performance, and a glimpse into the future plans of Empowered Ventures. Not only is this an opportunity for Chris to learn more about our amazing employee-owners, but it’s also an opportunity for you to hear regularly from Chris and others from within Empowered Ventures.
00:00:00:10 - 00:00:22:07
Casey Grisez
Hello everybody, and welcome to another episode of Empowered Owners, the community Building Podcast by and for the employee owners of Empowered Ventures. Join us as we take you inside the world of employee ownership, discovering the stories, insights, and sometimes surprising adventures in a family of businesses where everyone's an owner. Now let's dive in.
00:00:22:09 - 00:00:54:11
Chris Fredericks
I'm excited to be joined again by Brad Benoure. Brad's been on now, I think at least a few times. This might be your third time on the podcast, if I'm not mistaken. But yeah, really appreciate you coming back on Brad. Lots happened, you know, at Benoure since I last spoke on the podcast. So I thought it might be interesting just for you to kind of start off with giving an update for anybody that that doesn't know, you know, what's kind of transpired here in the last few months, but also, you know, from your vantage point, bonus been with the company with EV for two years now.
00:00:54:11 - 00:00:58:11
Chris Fredericks
So what's happened over the last couple of years? Well.
00:00:58:12 - 00:01:30:12
Brad Benoure
You know, obviously the sale was a pretty big news. A lot of transitioning from Benoure to Ben Holdings doing business has been loving and eating. Yep. Getting through that was a lot of work. I think our first milestone was getting Roger Nadeau into the picture. As the financial director. Roger kind of steer the ship with new financial information, which was very helpful.
00:01:30:17 - 00:02:04:17
Brad Benoure
Lots of people, you know, slowly buying into the ESOP. I think now most people understand what the ESOP is. And I think a lot of excitement for future, you know, retirement growth that they weren't getting before. And then, you know, working with Eric Lothrop and Gary Morin, President and Vice President, getting them, you know, kind of up to speed on all the business, you know, ins and outs.
00:02:04:19 - 00:02:29:18
Brad Benoure
They've done very well. They basically have been running the business since October of 2025. And the announcement in February that Gary's the new president, Eric's the executive VP. And Roger, obviously is still the director of finance. Yeah. Busy two years.
00:02:29:20 - 00:02:52:10
Chris Fredericks
Yeah. You made it sound easy. So yeah, here we are. We're recording early April, and I guess you officially kind of relinquished the president title to Gary just a little over a week ago. So it's been a lot in two years that has transpired. Why don't you share a little bit about when you were coming into EV when you made the decision to sell the company?
00:02:52:15 - 00:03:00:23
Chris Fredericks
Like what was your hope and plan for how the succession process would go, and how did it end up comparing to what transpired?
00:03:01:00 - 00:03:36:04
Brad Benoure
Yeah. So what? I finally made the decision that I needed to move on in my life from Benoure. The process with EV through the due diligence was, you know, a lot of work, but very, at the end of the day, not easy, but smooth, very open, but transparent. I think the biggest thing that EV kept was they were not going to swoop in and start changing the company around.
00:03:36:06 - 00:03:59:16
Brad Benoure
That was a big deal to me, keeping the culture, keeping, you know, not about all about money, about keeping the culture, keeping the quality, keeping our name. That was a big deal for me. And that has held true so far. And I believe, you know, Gary and Eric and Roger will continue that.
00:03:59:18 - 00:04:22:22
Chris Fredericks
Yeah, yeah. And for your personal work, like, you know, I think you built banner with a lot of amazing people, helped you build banner. And also you were kind of, from my vantage point, a real classic, you know. Hi. Hi. Driven entrepreneur. Like, you knew everything that was going on in the company. And so, you know, that was two years ago.
00:04:22:23 - 00:04:38:00
Chris Fredericks
You were in that position. And so now two years later, you've, you know, relinquished that responsibility. What has that been like to kind of shift from being in charge of everything to not running the company, you know, today?
00:04:38:06 - 00:04:44:13
Brad Benoure
Well, that was probably the hardest part of the sad whole sale transition. Chris.
00:04:44:13 - 00:04:45:05
Chris Fredericks
Yeah.
00:04:45:07 - 00:05:21:08
Brad Benoure
I knew everything day to day where every single person was what was next? Everything. Every in and out of the business. And, you know, last, you know, late, late summer or early fall. I started to kind of hand over that. The new leadership team. And it was, I would say the three of them at first were like, yeah, he's never get us out of everything, because I think Eric probably and Roger know me a little bit better than Gary at that time.
00:05:21:08 - 00:05:57:07
Brad Benoure
And I think Eric was like, there's no way, Brad, your linguist, and just step away, which was very, very hard, especially when I decided like, hey, these guys gotta, you know, take over while I'm here just so we can make sure everything's going smoothly. And really, about October of 25, the leadership team kind of took the reins slowly from me, and that was difficult to hear something and just stay out of it.
00:05:57:09 - 00:06:34:13
Brad Benoure
Seeing new employees come and be like, oh, was this guy. We're like, hey, there's another, another truck in the parking lot with a paper plate, new truck and just decisions that were making. And, you know, I think it's gone extremely well. Obviously, no matter what there's going to be, you know, some road bumps and there's employees that have been with Benoure over 30 years that I'm sure just, you know, having as much of a transition time that I did that it's not pop into Brad's office or call Brad.
00:06:34:13 - 00:07:02:05
Brad Benoure
It's called the right person that they're under now with a new kind of leadership team. And there's also just a whole new there's new people for each place that they directly report to. So, you know, I think the employees, it's a transition for them still. And I feel like they're in good hands. Well, it's going to take some time just to get used to there's no more Brad around.
00:07:02:06 - 00:07:03:04
Chris Fredericks
Yeah.
00:07:03:06 - 00:07:11:02
Brad Benoure
Well I mean the general contractors that true the it's a transition for a lot of people still.
00:07:11:04 - 00:07:31:06
Chris Fredericks
Yeah. Yeah. And like you said it's I think it's good to for folks to hear that from you because it's normal for it to be kind of an uncomfortable, you know, thing that it's a big change. It's a big transition for everybody customers, employees and of course you and the new leaders. So just huge kudos to you, Brad.
00:07:31:07 - 00:07:50:04
Chris Fredericks
I know I don't know if you want to get public praise on this, but you've really did an amazing job. And so yeah, for me, on behalf of all the employees and the customers like hugely grateful because you coming into this, you I knew you were committed to doing what's best for the company and that was motivating, like everything you were doing.
00:07:50:04 - 00:07:57:04
Chris Fredericks
And I mean, you've really you've stuck to that every step of the way. So yeah, I just want to say thank you.
00:07:57:06 - 00:08:22:16
Brad Benoure
Yeah, I appreciate it, Chris. And I think, you know, also that, you know, we stumble along to the right people to add to the leadership team. Yeah. You know, all three of them have great, you know, value in each area. Very skilled people. They're very driven. They're there long hours every day behind the scenes. You know, not everybody knows what they're going through and doing.
00:08:22:16 - 00:08:42:15
Brad Benoure
But their early they stay late and they're they're busy all day. Yeah. And I feel like they will continue to have the same culture epitaph, same quality of work and another eager to grow some areas of the business, which is great.
00:08:42:16 - 00:08:53:04
Chris Fredericks
Yeah, yeah. Let's talk a little bit more about that leader. Just what gave you the confidence to actually be able to step back? Like what do you think the new leadership team does well.
00:08:53:06 - 00:09:24:19
Brad Benoure
Well, I think that they are learning to collaborate pretty well. I think that they have you know, Gary has strong points in commercial and new connections that we didn't have before. Eric is very, very well versed in custom and residential homes. He's great with the contractors he's had for years. Roger brings in a new mix of experience from different businesses he was with in.
00:09:24:19 - 00:09:51:00
Brad Benoure
It's very great to have Roger, you know, sharing what we're actually making in each department so that before when Brad owned the company was just one, you know, I knew what we were making, but now we know each area where we're in. I think that's very helpful for the the tuning leaders to drive the ship correctly.
00:09:51:02 - 00:10:11:17
Chris Fredericks
Yeah, yeah. They all bring really complementary skills to each other and, and kind of all do different things well, kind of offset each other. Everyone has strengths and weaknesses. They kind of have the opportunity to offset each other's weaknesses in some ways. So I think it's a great leadership team. You've you've assembled and definitely excited about about it.
00:10:11:17 - 00:10:22:19
Chris Fredericks
And of course, as you said, it'll be it'll still be a transition. And what do you think they're going to need to do in the coming years to just make sure it really settles in and and really goes really, really great.
00:10:22:20 - 00:10:50:17
Brad Benoure
Well, I think, you know, one very important thing is, again, the key, the culture. You know, I was very, very much appreciative of every employee that worked for me. They need to continue that. Yeah. And she, you know, quality work out there with the right employees, which we seem to be gathering steam with new employees, some great new people, new divisions of Benoure.
00:10:50:19 - 00:11:14:13
Brad Benoure
I think they just need to, you know, let the dust settle and work together and put the foot back on the accelerator once everything settles down a little bit from the transition, which was it's scary for the employees. It's yeah, it's it's just some new thing. And but I think I know we have the right leadership in place.
00:11:14:13 - 00:11:32:12
Chris Fredericks
So that's great. Yeah. That's awesome. What do you think. And I think you've mentioned this a little bit. But what about the past that has led to Benoure? Six is just really essential to continue from a you know, values perspective. Like what do you what do you think those secret ingredients have always been?
00:11:32:14 - 00:12:03:15
Brad Benoure
Well, always, always take care of your customer no matter what. No matter what we do, whether it's manufacture defect or our workmanship defect, always go back, take care of our problems, and cater to our general contractors because they're they're the reason why we're successful with the employees. Without the employees, no company is a company. So keep true to your employees and your contractors.
00:12:03:16 - 00:12:18:04
Chris Fredericks
Yeah, yeah. And I would imagine in there too, with the contract with the work is just the quality you've always really emphasized, like the quality of the work is that. Yeah, that's something I imagine you still see going forward.
00:12:18:05 - 00:12:48:07
Brad Benoure
100%. And, you know, it's not just the leadership team. You know, there's, you know, our service manager, our sheet metal manager, our service install manager or track housing manager, you know, in all the employees, you know, we end up at different houses looking at things. And Benoure does excellent, excellent work always has and will continue I believe with just the employees that are in place at this point.
00:12:48:13 - 00:13:09:20
Brad Benoure
You know, we have a couple guys that are hit their 30 year mark that help build the company. We have, you know, a slew of guys in their 20 plus year mark in a ton of guys 15 plus years in those guys think of the company and I believe they still do as it's was, it's like their own.
00:13:10:01 - 00:13:11:11
Brad Benoure
Well, now really it's part.
00:13:11:11 - 00:13:12:15
Chris Fredericks
Of that.
00:13:12:17 - 00:13:20:09
Brad Benoure
Where it was before. But they acted like it was. And you know, keep our key guys and keep the new talent coming.
00:13:20:11 - 00:13:21:04
Chris Fredericks
Yeah. Yeah.
00:13:21:09 - 00:13:22:15
Brad Benoure
That's a.
00:13:22:17 - 00:13:35:15
Chris Fredericks
That's great. That's great. So yeah, I'm sure people are curious. Like now that you've officially relinquished your, your, your leadership role at banner, like what's up for your it's coming for Brad. Like what's your next chapter going to be.
00:13:35:17 - 00:13:45:17
Brad Benoure
Well I did have a lot of thoughts, Chris. Really what I wanted to do next. Yeah. And you know, just having a little bit of time here.
00:13:45:19 - 00:13:47:06
Chris Fredericks
Take a break maybe.
00:13:47:08 - 00:14:07:13
Brad Benoure
You know, evaluating really what my next chapter is, what I really want to do, how I want to do it, who I want to do it with without getting myself into a very stressful life again.
00:14:07:15 - 00:14:12:17
Chris Fredericks
No more 90% companies in your future. Brad. You don't want an other 90 person company?
00:14:12:22 - 00:14:38:13
Brad Benoure
No, I've lived that. I enjoyed it for many, many years, but I think at this point I want to maybe do some land development. Possibly. That's kind of in the works of Brad's thoughts right now. Yeah, but I don't want to give myself where I am 60 hours a week, stressed, laying in bed all night wondering how I was going to be.
00:14:38:13 - 00:14:44:16
Chris Fredericks
So yeah, but you're not going to be one of these folks who just watches TV all day, I imagine.
00:14:44:18 - 00:14:45:17
Brad Benoure
Nope.
00:14:45:19 - 00:14:46:15
Chris Fredericks
Oh.
00:14:46:17 - 00:14:51:04
Brad Benoure
My poor dog is like another walk.
00:14:51:06 - 00:14:56:23
Brad Benoure
The lots of lots, lots of walks with the dog right now, that's for sure.
00:14:57:00 - 00:15:19:23
Chris Fredericks
Yeah, well, it'll be fun and exciting to see what you do next, for sure. What about, you know, as we close out here, like, you've gone through quite a process the last few years, you know, deciding to sell your family's company and, you know, now handing off the leadership of it to new leadership team. And, you know, just having in within that having to decide who to sell to.
00:15:19:24 - 00:15:46:03
Chris Fredericks
And there's a lot, a lot of big decisions to make and a lot of change for other business owners that may be listening at some point. Like what advice would you have for them, like in terms of the process, like things you've learned, particular advice that someone has given that was ended up being really helpful, just any lessons you'd be willing to share with business owners thinking about going through a similar process?
00:15:46:05 - 00:16:19:22
Brad Benoure
Yeah. So I think the first lesson I learned, Chris, that really I didn't know too much about was not styling to a private equity, selling to a employee owned business. Lots of other mechanicals now had sold to private equity sprinkler companies, electrical companies. I feel like not it wasn't really a lesson. I think it was more of luck, of the draw, of ending up with Empowered Ventures over a private equity.
00:16:19:23 - 00:16:36:24
Brad Benoure
I think it's great for the employees. I think it's going to be great for Benoure to attract talent in the future, which wasn't really a lesson. But now I would never, ever sell to a private equity. Seek difference between the two.
00:16:37:01 - 00:16:38:23
Chris Fredericks
That's great.
00:16:39:00 - 00:17:03:04
Brad Benoure
The one lesson that I did learn was it's a lot of work. When you already feel like you're at a gas, there's a whole new hill to climb. So knowing that, you know, it does take work to make it a good transition. I've seen and heard of other, you know, people selling businesses, staying for a short amount of time.
00:17:03:04 - 00:17:45:13
Brad Benoure
And I've seen that it doesn't work because some of the employees are now with us from other companies, and that you have to have a lot of patience to assemble the right team. That does not come quick. It takes a lot of time, a lot of, you know, screening of people to get the right team in place. And looking back, Chris, you know, it's it's now scary, like, all right, what am I going to do even though I want there's time in between that that I'm not used to sitting around.
00:17:45:14 - 00:18:13:14
Brad Benoure
So I wish I had a plan, had more hobbies. But when you work all the time in your life is your business. You. You'll have the kind of hobbies. And now it's time management of what to do with myself until I find the actual next chapter still 51 and I got a lot of life to live, but I need purpose in my in my life again.
00:18:13:16 - 00:18:34:06
Chris Fredericks
So yeah, makes a lot of sense. This is a little, little granular. But as looking back all the way back to the sale process when it was so much work and another big hill to climb while you were running a company, what would you say to folks about getting the right help? And I'm thinking about like when you decided to work with a serious like M&A attorney.
00:18:34:07 - 00:18:47:09
Chris Fredericks
Like that was not cheap. You mentioned it a couple times, but like, I imagine it was worth it because it it's it's hard to pull something off like that without the right kind of help. So I'm curious what if you would agree with that.
00:18:47:10 - 00:19:14:04
Brad Benoure
Well, obviously, you know, most business owners have never sold the business, right. You know, or it's their first time. I was lucky to have a great friend from my childhood that ended up buying and selling banks out of New York City, and he got me in with their lawyers and he told me he had they're not going to be cheap, but they're every penny.
00:19:14:06 - 00:19:23:18
Brad Benoure
They didn't really tell me how much they were. And I think actually, Chris, you were a little worried, like, oh, geez, he's a New York City lawyer.
00:19:23:19 - 00:19:27:11
Chris Fredericks
New York City M&A attorneys. That sounds kind of scary. Yeah, yeah.
00:19:27:12 - 00:19:53:19
Brad Benoure
And having the right, you know, people behind you made it easy or then. Well, I shouldn't say made it easy, but they were pros. They I think made it as smooth as we could with the Chicago lawyer in New York City lawyers. So that was that was very much, I think, key. Yeah. You could send an email at 930 at night and then 932 you had a response.
00:19:53:22 - 00:19:56:10
Brad Benoure
So very helpful.
00:19:56:12 - 00:20:24:07
Chris Fredericks
They were both obviously just reflecting back. We both had attorneys that were and I think this is helpful for business owners to hear that, you know, we both had our attorneys looking out for us. Both had a lot of M&A experience, but both were reasonable people, too. And so that that's ultimately what made the process itself as minimal pain as as possible, even though it's always got some amount of of pain.
00:20:24:07 - 00:20:34:19
Chris Fredericks
So yeah, I think I learned a lesson from that, which was I don't need to be scared of the New York City big shot attorneys necessarily, if they're just still reasonable people. Yeah.
00:20:34:20 - 00:21:04:01
Brad Benoure
I don't think it was just that. So definitely the lawyers are reasonable and work together, I think, but also I think Empowered Ventures and I yeah, to make some concessions in different areas to make things work. And I believe like, yes, you definitely need to make concessions. It's not one sided. It was very back and forth, and I feel like we landed in both on grounds that we could live with.
00:21:04:04 - 00:21:34:00
Chris Fredericks
Yeah, it set the tone for the two years of working together and on further things, which. So yeah, I'll say it again. I mean, I mentioned in to this to you offline, but you this was about as well as it could go from my perspective, from a, you know, transition process and a partnership perspective coming into this, I knew it was your intention to find a way to to not be, you know, running the company 2 to 3 years in or so would be the goal, ideally.
00:21:34:00 - 00:21:45:24
Chris Fredericks
And we were able to pull it off together. And I again, I think that's a big testament to you and what you were committed to doing. And so thank you again, Brad. It's been a joy and looking forward to keeping in touch. Of course.
00:21:46:03 - 00:22:17:11
Brad Benoure
Yeah, Chris. And, you know, I don't think it was just all Brad, you know, in Power Ventures held true to their word. That's not overstepping, being there for support when needed. I mean, you guys helped with the financial director. You help, you know, hiring. You know, Gary, you guys were there when support was needed but didn't overstep when you weren't really needed by any stretch.
00:22:17:13 - 00:22:28:01
Brad Benoure
You and Mike and Tabitha and Kim were all a joy to deal with throughout this process. And Emily.
00:22:28:03 - 00:22:46:03
Chris Fredericks
That's great, Brad. Thank you. This has been so much fun. Appreciate you giving us some more time when you really didn't have to. And yeah, it's going to be fun to see. You know the future for Benoure. You've positioned Benoure for a lot more success going forward. So it's going to be really fun to see what happens with the company going forward.
00:22:46:07 - 00:22:53:12
Brad Benoure
Very excited to see how it will be in the next year. Two, three, 4 or 5, ten years down the road.
00:22:53:17 - 00:22:56:09
Chris Fredericks
Yeah. Thanks, Brad. Thanks for coming on.
00:22:56:11 - 00:22:57:11
Brad Benoure
Thank you Chris.