New ownership will maintain firm’s strategies and values
MENDOTA HEIGHTS – February 2, 2012 – Hollstadt & Associates, Inc., a market-leading provider of management and technology consulting services, announced today the sale of the firm to Molly and Jim Jungbauer of White Bear Lake, MN. The transaction includes 100% of the stock of Hollstadt & Associates, Inc. and is effective immediately.
“I know the timing is right and this is a smart fit,” said Rachel Hollstadt, former CEO and owner of Hollstadt & Associates. “While I have been approached by multiple firms and investment groups in the past, it just never felt right. I was looking for a buyer who would maintain the integrity, independence and values of the firm as we’ve built it. I’m confident the Jungbauers will maintain and strengthen the values, people and clients associated with the firm.”
Rachel added, “Right now, the growth and future of the firm are as solid as ever. I am extremely appreciative of my fabulous team who has gotten us this far, and now the Jungbauers can take the company to the next level. I couldn’t have found a more perfect situation.”
The Jungbauers do not plan to change Hollstadt’s proven formula for success, and will continue to focus on providing exceptional client satisfaction by employing experienced consultants who provide outstanding value to their many clients. Even the name of the firm will remain Hollstadt & Associates, Inc.
As CFO and majority shareholder of Hollstadt, Molly Jungbauer, will be leaving her position as Controller of Minnesota Sports & Entertainment (parent of the Minnesota Wild) to assume her new role.
Ms. Jungbauer plans to focus on growing the firm while working directly with Rachel to continue her commitment to mentoring and coaching women in the Twin Cities, as well as networking with female executives in the area. Hollstadt’s current CFO, Amy Jensen, will remain working with the firm under a retainer agreement, and plans on spending her free time volunteering and spending time with her family.
Jim Jungbauer, who has served five years as President of Hollstadt & Associates, Inc., will retain the position of President. Mr. Jungbauer feels he and his management team are exceptionally qualified to continue serving Hollstadt’s many clients and plans no changes to the strategies Hollstadt & Associates, Inc. has employed.
Rachel will continue to stay active with the firm in a number of ways, including providing consultative services during the ownership transition period. She will also stay on in a formal capacity as part of an Advisory board the Jungbauers plan to establish. Lastly, Rachel will work with the new owners to continue the Executive Women’s Breakfast and other business and community networking activities that are important to the firm.
Post-closing, Hollstadt & Associates, Inc., employs approximately 180 people, and anticipates 2012 run-rate revenues greater than $30 million annually.
About Hollstadt & Associates, Inc. (Hollstadt)
A Minnesota company established in 1990 and headquartered in the Twin Cities, Hollstadt & Associates, Inc. is an award-winning management and technology consulting firm dedicated to helping its clients change and grow by providing professional consultants who define, analyze and manage business and technology initiatives. Hollstadt consistently provides clients with highly qualified management and technology consultants, program and project managers, and business analysts. Hollstadt is an anchor member of the Minneapolis and St. Paul communities and actively supports several philanthropic ventures. Learn more at www.hollstadt.com.
1333 Northland Drive, Suite 220
Mendota Heights, MN 55120