FMS Solutions Has a Breakout 2020, Setting the Stage for Key Market Expansion in 2021

A number of strategic acquisitions made throughout 2020 places FMS Solutions in a key position to diversify offerings across new industries in 2021 and beyond.

​​​This year has been marked with two key acquisitions and a strategic partnership that have positioned FMS Solutions, a leader in accounting solutions, for accelerated growth in 2021.

In January of 2020, FMS Solutions announced its acquisition of Boschini Miller and Associates (BM&A), an accounting services firm providing support to multiple grocery, restaurant, and other retail environments. While this marked a great beginning of the year for FMS, the businesses that would now be served by FMS were poised to receive a myriad of enhanced services which better prepared them to compete, not only in the already tough industry environment but also to withstand the events that would unfold throughout the year.

Later in May of 2020, FMS Solutions entered into a definitive agreement to acquire United Natural Foods, Inc.'s (UNFI) Retail Accounting Services Division. The transaction, completed in June of 2020, made it the second acquisition of the year for FMS, showcasing the fast-moving pace of its growth strategy. FMS's leading position as an accounting provider, combined with UNFI's diversified customer portfolio, created a new roadway to help more independent businesses succeed.

FMS Solutions announced in July that it will be the third-party outsourced provider for Grocers Supply's Retail Accounting Services Division in Houston, Texas. This strategic partnership increased FMS's presence in the south-central part of the U.S.

Supporting over 5,000 independent business locations and 400 family-owned companies across the United States, Canada, the Caribbean, and South America, FMS Solution’s clients bring together nearly 25% of the independent retail sales in the U.S.

“We’re optimistic about all the progress we’ve made in 2020 and look forward to how we’ll better be able to support our clients in the future,” according to Gary Bickmore, CSO at FMS Solutions. “FMS has a long history of providing excellent accounting and payroll services across North America. By building off of that, we look forward to overcoming any challenges and expect to continue to provide best in class services to all our clients."

With the goal of diversifying its offerings to additional industries that can benefit from their services, FMS is anticipating an upcoming market expansion in 2021. Considering acquisition targets in both the U.S. and Canada, with the ambitious prospect of additional overseas expansion on the horizon, means a busy 2021 for FMS Solutions.

“As the company expands, our goal is to continue to serve with the tradition of helping independent businesses be successful, and we are looking to empower them in a variety of industries,” said Bickmore. “Our experience and best practices, paired with the enhanced features and tools we offer, will better prepare our current and future clients to recover and compete in this very challenging retail landscape and position them for success in the years to come.”

About FMS Solutions

FMS specializes in accounting and payroll solutions serving independent businesses across different verticals. We offer first-in-class accounting, time-sharing, and host services utilizing a general ledger-based system to fully integrate all financial applications.

Source: FMS Solutions