4 months ago
Back successful 2017, Kevin King was looking to discontinue from ABS Payroll, nan institution he founded successful 1985 to work independent productions, and manus nan business disconnected to his boy Kris. He invited BondIt Media Capital co-founders Matthew Helderman (above, left) and Luke Taylor (above, right) to lunch. Their accumulation institution Buffalo8 had been an ABS client, and erstwhile nan duo launched BondIt successful 2013, nan King family participated successful its first information of financing. Now, King was offering BondIt nan opportunity to return nan favour and put successful ABS.
“Kris was moving nan day-to-day, and his begetter wanted him to beryllium surrounded pinch executive-level aliases MBA-minded support, arsenic opposed to a script wherever he hired an finance slope and sold nan business, and his boy would apt beryllium pushed out,” says Helderman.
BondIt subsequently acquired a 49% liking successful ABS successful 2018, providing Kris King pinch a unafraid perch from which to tally nan company, arsenic good arsenic a rate infusion that enabled nan institution to measurement up its game.
Previously, “we were servicing budgets arsenic precocious arsenic $1 cardinal aliases $2 million, if we were lucky,” says King, who had joined ABS arsenic a payroll coordinator successful 2006 and now holds nan title of president. “When [BondIt] sewage involved, they were capable to catapult america into nan $5 cardinal to $10 cardinal fund ranges.”
ABS besides expanded its services, launching a residual payroll level successful business pinch authorities guidance institution Freeway Entertainment and its proprietary integer onboarding and timecard technology.
The company’s increasing reach, arsenic good arsenic its proven expertise to service a assortment of marketplace niches — including TV pilots, commercials, shorts and sizzle reels, video crippled productions and unrecorded events ranging from taxable parkland and cruise vessel performances to concerts — attracted nan liking of Venture Employer Services, an Arizona-based institution focused connected mini and medium-sized businesses that processes upwards of $16.8 cardinal successful payroll annually.
In October 2022, Venture purchased an 80% equity liking successful ABS, retaining Kris King arsenic president and Helderman and Taylor arsenic executive directors.
