With two dozen deals currently in the pipeline, business advisory and financial services provider Fiducial says that acquisitions will be the main engine of its growth over the next three years.
The Columbia, Md.-based concern, which last year kicked off an ambitious expansion program to extend its market presence nationwide, has plans for another buying spree. The company currently has two dozen acquisitions in various stages, according to media manager Stephen Parezo.
Recently, Fiducial
"We have ample capital set aside to do basically any quality acquisitions that cross our path," said Ken Berryman, Fiducial's acquisitions manager. "We're trying to identify those firms which best fit our model for small business services to help them grow and be profitable. We're not looking for traditional accounting firms with multiple partners who do audit work and consulting."
"It's fair to say we want geographic expansion in the U.S. and it's conceivable we will look at Canada and other markets once we're on the way, but the U.S. is Job One," said Berryman. "North America is generally a place that Fiducial would like to expand into, but the U.S. is our top priority."
The firm is targeting small bookkeeping firms with less than $400,000 in annual revenue to either fold them into existing company offices or combine them to create a larger-scale office. Negotiations are underway in the Midwest.
On the local level, Fiducial wants to line up staffing and wholesale client acquisitions where the typical candidate is an independent bookkeeper working out of their house with $100,000 in billables.
