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by Stephen Parezo

February 19, 2007—Fiducial announced this week that it has strengthened its Midwest market by acquiring Matrix Accounting and Business Services, a Cincinnati, OH-based firm that has served clients since 1961. Terms of the agreement, effective January 1, 2007, were not disclosed.

The acquisition, which adds more than 2,000 tax, monthly write-up and payroll clients, involves three office locations in Cincinnati including Paymaster, Inc., a payroll processing company, and one in Indianapolis, IN.

“Their location complements our Indiana base very well but also opens the door of Ohio,” said Yves Morard-Lacroix, Fiducial’s executive vice president. “It helps reinforce our presence in the Midwest.”

Bill Morice, director of Fiducial’s field operations, indicated that the deal gives Fiducial a strong foothold in Cincinnati while extending the company’s presence in Indianapolis.

“The Tri-State area of Ohio, Kentucky and Indiana is where Fiducial want to concentrate on to serve small business clients,” said Morice. “With existing offices in Indianapolis, Louisville, KY, and how Cincinnati, Fiducial has further increased its reach.”

Mike Thomas, formerly of Matrix, will serve as branch manager of Fiducial’s Cincinnati office. He noted that the acquisition made sound business sense for both parties since they shared similar business models and philosophies.

Tri-State area clients will benefit

“That’s the one aspect that made it look very advantageous from our point of view because we do the same things,” said Thomas.

Charles (Chic) Hilliker, district manager of Fiducial’s eight Indiana offices, commented that Matrix is an extremely well run organization which shares a very similar business approach.

“They have the same philosophy as we do: service-oriented for small businesses that operates in the same type market and they’ve been doing it for 46 years,” said Hilliker.

Small business clients in the Tri-State area, Thomas says, will reap the benefits of the Fiducial acquisition.

“It just gives them access to a whole lot more in the way of expertise and possibilities in terms of what we can provide that we couldn’t do as a small independent company,” he said.

According to the head of Fiducial’s U.S. operations, this purchase also sets the tone for additional acquisition efforts in 2007.

“We want to be every aggressive with our acquisition program this year,” Morard-Lacroix said. “It shows our determination to grow by acquisition everywhere. I hope this sets an example for our other district offices.”

Stephen Parezo is the Media Manager for Fiducial.

Whatever your small business needs, your Fiducial tax and financial professional can analyze your situation and recommend an appropriate action plan. To locate a Fiducial office nearest you on fiducial.com, see the Zip Code Locator located in the upper right hand corner of the page. Do you have a particular topic that we should be writing about that can help your business? Please send your suggestions to: stephen.parezo@fiducial.com.

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