Bondry Management

What Bondry Management does

Bondry Management Consultants, LLC (operating as Bondry Consulting) is a boutique municipal advisory firm headquartered in Carmel, Indiana, founded in 2018 by Oscar Gutierrez. The firm provides professional advisory services to municipalities, public agencies, K-12 schools, and private developers across four service lines: Municipal Advising, Economic Development, K-12 Schools, and Utilities. Core engagements include debt structuring, capital project planning, tax impact analysis, bond issuance advisory, and public-private partnership structuring for tax-exempt and taxable municipal financings.

The firm is registered with the SEC and MSRB as an independent municipal advisor, holds Series 50 and Series 54 designations, and is the sole MBE/VBE-certified municipal advisory firm in Indiana, with additional certifications as SDVOSB, DBE, and ACDBE across Indiana, Illinois, and Kentucky. Since 2018 Bondry has executed over $1.02 billion in cumulative municipal bond transaction value, including marquee engagements such as the $102.5 million Hamilton County PSAP bond financing, the $80 million Hamilton County Hospital Association refinancing, and the $43.5 million Mishawaka Sports Facility developer advisory.

Bondry's business model is fee-based professional services revenue generated through bespoke engagements, with pricing quote-based per mandate and not publicly disclosed. GTM is sales-led and relationship-driven, leveraging the founder's prior roles as municipal controller for the Cities of Fishers and Lawrence, his DoD financial management background, and a team that includes professionals sourced from H.J. Umbaugh/Baker Tilly and the City of Indianapolis Office of Finance and Management. The firm operates through direct client engagement with no intermediary distribution channels and serves a primary geographic market of Indiana with registered expansion capacity into Illinois and Kentucky.

Name

Bondry Management

Legal name

Bondry Management Consultants, LLC

Website

https://bondryconsulting.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Bondry Management is a Carmel, Indiana-based boutique municipal advisory firm serving municipalities, K-12 schools, utilities, and private developers across Indiana with debt structuring, bond issuance, capital planning, and public-private partnership advisory services. Founded in 2018, it is the state's sole MBE/VBE-certified municipal advisor.

Ownership category

akta.pro rank

Product category

Municipal Advisory & Public Finance Consulting

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Debt Advisory & Financing Advisory (FSAEAGAD)

akta.pro secondary industries

Public Debt Management (BPAIAEAC), Project & Infrastructure Bonds (FSACABAN)

Keywords

• Municipal advisory services
• Public finance consulting
• Bond issuance advisory
• Economic development consulting
• Tax increment financing

Headquarters

HQ city

Indianapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Municipal Advisory Services: Professional advisory services for municipalities including debt structuring, capital project planning, and tax impact analysis. Revenue is generated through consulting fees for municipal finance engagements.
2. Developer Consulting: Consulting services for private developers engaged in public-private partnerships, structuring bonds and development financing arrangements.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Bondry Management is a boutique municipal advisory firm that provides debt structuring, capital project planning, tax impact analysis, and bond issuance advisory services to municipalities, K-12 schools, utilities, and private developers. The firm operates four service areas — Municipal Advising, Economic Development, K-12 Schools, and Utilities — delivering tailored consulting engagements across tax-exempt and taxable municipal bond markets with a documented track record of over $1.02 billion in completed transactions.

Product overview

Bondry Management is a boutique municipal consulting firm offering four interconnected service areas: Municipal Advising, Economic Development, K-12 Schools, and Utilities. These services are delivered through a collaborative, hands-on approach where the team applies expertise in public finance, debt structuring, and capital project planning to help communities achieve sustainable growth. The firm specializes in tax-exempt and taxable debt financing across municipal bond markets and provides strategic advisory services tailored to each client's unique needs.

Differentiator

Problem solved

Functional benefit

Products and services

• Municipal Advising Municipal advisory services helping local governments navigate complex financial decisions including debt structuring, capital project planning, tax impact analysis, and state and federal compliance reporting. Delivered to cities, towns, counties, townships, and redevelopment authorities.
• Economic Development Economic development services dedicated to driving sustainable growth by partnering with municipalities to design customized strategies that attract business investment, stimulate job creation, and enhance local infrastructure.
• K-12 Schools Strategic financial planning and growth-oriented development support for K-12 schools and libraries, including bond issuance, optimizing resources, securing funding, and addressing financial challenges for school districts and charter schools.
• Utilities Municipal finance services including comprehensive rate studies for utility, water, sewer, and trash services, with focus on cost analysis, revenue forecasting, and equitable rate structure development, plus bond financing for utility infrastructure expansion.

Quantifiable outcome

• Over $1.02 billion in total municipal bond transactions completed
• +4 more outcomes

Named customers20 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and minor.

• Hamilton County, IndianacoreImplementation/ SI/ Consulting PartnerBondry Consulting served as municipal advisor for Hamilton County's $65 million utility expansion project in Bakers Corner. The firm helped secure $12 million in Redevelopment District Bond Anticipation Notes and aligned funding from ARPA ($25 million) and State of Indiana ($30 million). Bondry structured the repayment model using tax increment financing and utility revenues.
• Indiana Finance AuthoritycoreImplementation/ SI/ Consulting PartnerBondry Consulting advised the Indiana Finance Authority on financing a $27.8 million project for Matchbook Learning Schools of Indiana. The firm structured $20.5 million in bonds, coordinated with $5.3 million DOE grants and $2.13 million in ESSER funds, and ensured compliance with financial and sustainability goals.
• Hamilton County Public Building CorporationcoreImplementation/ SI/ Consulting PartnerBondry Consulting served as Municipal Advisor for $102.5 million PSAP Local Income Tax Lease Rental Revenue Bonds to finance Hamilton County's emergency response system modernization. The project included a new Public Safety Answering Point headquarters and Motorola 911 equipment.
• City of MishawakacoreImplementation/ SI/ Consulting PartnerBondry Consulting served as Developer Consultant for the $43.5 million Mishawaka Sports Facility project. The firm structured Taxable Economic Development Lease Rental Revenue Bonds and secured funding through TIF revenues, grants, and tax contributions. Created repayment model using TIF, operational income, and innkeepers' tax pledges.
• The Mind TrustminorStrategic or Co-development PartnerThe Mind Trust provided a $500,000 grant supporting the Matchbook Learning Schools project in Indianapolis. The grant promoted innovative education approaches in the community.
• Card & AssociatescoreImplementation/ SI/ Consulting PartnerBondry Consulting assisted Card & Associates in structuring bond financing for the Mishawaka Sports Facility project, working collaboratively on the public-private partnership arrangement.
• Student Impact of WestfieldminorStrategic or Co-development PartnerFounder Oscar Gutierrez serves on the board of Student Impact of Westfield, demonstrating community engagement and strategic relationships in the education sector.
• Bosma EnterprisesminorStrategic or Co-development PartnerFounder Oscar Gutierrez serves on the Executive Board of Bosma Enterprises, supporting the organization's mission and maintaining community leadership connections.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• KNN Public Finance: KNN Public Finance is an independent municipal advisory firm serving cities, schools, and special districts with bond issuance and capital planning. Directly comparable boutique competitor to Bondry with similar client focus and service offerings.
• Columbia Capital Management: Columbia Capital Management is an independent municipal advisory firm providing debt issuance and financial advisory services to municipalities, schools, and nonprofits. Comparable as a similarly sized public finance advisory practice to Bondry.
• TKG & Associates: TKG & Associates is an independent municipal advisory firm providing debt issuance and financial advisory services to public agencies. Comparable as a similarly sized boutique operating in the same municipal advisory space as Bondry.
• Acacia Financial Group: Acacia is a mid-sized independent municipal advisory firm specializing in bond issuance, financial planning, and continuing disclosure for public entities. Most directly comparable to Bondry in size, service mix, and client base.
• NHA Advisors: NHA Advisors is a municipal advisory firm focused on public finance, including bond issuance, arbitrage, and continuing disclosure for governments and school districts. Similar Indianapolis-adjacent presence and service overlap with Bondry.
• Government Finance Group: Government Finance Group provides independent municipal advisory and financial planning services to state and local governments. Comparable in client focus and service mix to Bondry's municipal advisory and economic development practices.
• Lamont Financial Services: Lamont Financial Services is an independent municipal advisory firm providing debt issuance, refunding, and capital planning services to municipalities and schools. Comparable boutique competitor to Bondry with similar scope.

Broad incumbents

• Hilltop Securities: Hilltop Securities provides municipal advisory, public finance, and capital markets services to state and local governments throughout the country. Comparable to Bondry in its core municipal advisory work, but offers bundled underwriting, trading, and asset management.
• Stifel Public Finance: Stifel provides full-service municipal advisory, underwriting, and trading through its public finance division. Comparable to Bondry's advisory work, but as part of a much larger diversified financial services platform.
• PFM Financial Advisors: PFM is one of the largest independent municipal advisory firms in the U.S., serving state and local governments with debt advisory, financial planning, and investment services. Directly comparable to Bondry's municipal advising practice, but at significantly larger scale and geographic reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/2546996

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bondry Management