Advance Business Systems of Cockeysville has acquired Frederick-based Service Concepts in a move that the company said will further increase its growing presence in Frederick and Washington counties.
Financial details of the acquisition were not disclosed.
“Laying down roots in Frederick was one of our top priorities,” said Jeff Elkin, the company?s chief operating officer. “Building a rock-solid foundation and expanding from there has been our plan since day one. Frederick and Washington counties are rapidly growing areas, and this acquisition opens many more doors for us.”
The acquisition will also further the company?s growing position in the office equipment industry. The company previously acquired two Baltimore branches of office-equipment supplier Monroe and Gestetner and more recently Rosedale-based American Business Machines Inc.
As a result of the acquisition, Advance, which provides business equipment and document management solutions, will assume the handling of sales and services for all Service Concepts? customers. Service Concepts will transition to the Advance Business Systems name in the next few weeks.
The company, which boasts about $30 million in annual revenue, originally laid groundwork in Frederick about three years ago when it opened an office there. By acquiring Service Concepts, Advance gains several hundred new clients, and it will continue to run the company?s operations from Service Concepts? current facility located at 5713 Industry Lane in Frederick.
“A key factor in deciding whether or not a company is a viable candidate for acquisition is how well the two organizations can blend together,” said Elkin. “Service Concepts and Advance share similar product lines and business philosophies making this a natural fit.”
Former owners of Service Concepts, Kim and Debbie Himmelmann, will serve as consultants for six months to assist with the transition period. Advance plans to retain all of Service Concepts? employees and hire additional people as the business grows. The Himmelmanns decided to sell the company, which they owned and operated for more than 21 years, to retire and pursue other interests.
“Debbie and I are extremely pleased that Advance Business Systems is going to take care of our employees and customers,” Kim Himmelmann said. “There is a lot of common ground between us. We are both family businesses with great company spirit and genuine caring for employees and customers.”
