Greatland acquires Aabet Business Systems
Greatland Corp., a Michigan-based tax services provider for businesses, has acquired Aabet Business Systems for an undisclosed sum. Aabet, based in Marin County, California, provides checks and tax forms and related services to businesses.
A 30-year-old company, Aabet Business Systems provides checks, tax forms and related services to businesses. This acquisition is Greatland’s third in five years, and is effective immediately. The buy expands Greatland’s presence in California.
“The motivation behind the acquisition was to maintain our market share in the payment processing market, and at the same time allow us to offer our wage and information reporting products and services to a new customer base,” said Greatland president and CEO Bob Nault. “Aabet Business Systems is a strong, established company and we look forward to bringing their customers new options, such as our wage and information reporting products and services,” he added in a statement.
Nault told Accounting Today that this acquisition is similar its past buys of Express Business Forms and NewportWave in that the company is acquiring an established customer base and can add them into its current product line and offer additional services. Additionally, no staff from its previous acquisitions have been absorbed by Greatland.
“Greatland’s acquisition strategy is two-fold,” Nault said. “The main objective for us is to evaluate companies based on their ability to expand our market or grow market share within the wage and information reporting market. A secondary objective is to acquire companies that allow us to maintain our market share in ancillary product lines such as payment process and tax presentation materials. This acquisition fits within the second category.”
The two companies have been partners in the past, having collaborated for the last 13 years on business checks, envelopes, and W-2 and 1099 forms, often with Greatland drop-shipping products directly to Aabet customers.
“Taking care of customers has always been my primary concern, and I know they are in excellent hands with Greatland,” Shelli Clay, owner of Aabet, stated. “Their team is highly trained, exceptionally knowledgeable and committed to service at every level.”
Since 1974, Greatland has been providing wage and income reporting products and services to businesses of all sizes. The company has a team of compliance experts to help businesses adhere to IRS and Social Security Administration requirements to avoid fines.
For more information on Greatland’s products and services, visit www.greatland.com.