May 7, 2025

Sioux Falls-based Journey Group Cos. has sold the Spearfish-based arm of its construction business to a local buyer.

Journey Group acquired Ainsworth-Benning in 2016 and has sold it to Hartford-based ANCO Holdings, which also has an office in Piedmont.

ANCO Holdings was founded in 2020 by Mike Young, who is CEO, and business partners Eric Rodenborn and Leland Langstraat.

The acquisition allows ANCO Holdings to expand into general contracting services, adding to its utility, energy, wireless and development infrastructure services.

Ainsworth-Benning Construction was founded more than 65 years ago and provides commercial, civil and custom residential construction services, along with site development.

“I look forward to the opportunities this will bring to everyone in our organization and for the consolidated services we’ll be able to provide to our customers as we continue to diversify our service offerings,” Young said in a statement.

The acquisition supports ANCO’s long-term vision of being a full-service provider in infrastructure development, positioning the company to handle projects of greater scale and complexity.

“We’re proud of the legacy we’ve built in the Black Hills, and this next chapter with ANCO Holdings allows us to expand our impact while continuing to serve our communities with the same commitment and care,” said Tate Johnson, president of Ainsworth-Benning, who is becoming a partner in ANCO. “I am excited for our team and for the future of Ainsworth-Benning Construction.”

Ainsworth-Benning will continue operations under its established name and leadership.