Working capital to support increased production as world-class fulfillment company manages increased services post-pandemic
CAMBRIDGE, Mass.–(BUSINESS WIRE)–#SME—Cambridge Savings Bank (CSB)a full-service mutual bank with a customer-centric approach and over $5 billion in assets, today announced that its Corporate Banking team has provided a new client, Achievement America, Inc, with a financial package of $6.5 million to support its next phase of growth. Based in Billerica, Mass., Fulfillment America is a national six sigma fulfillment organization that provides B2C and B2B fulfillment services, including warehousing, printing, kit assembly, logistics, and more.
The family-owned, second-generation fulfillment services company recently transferred ownership from its founder, John Barry, Sr. to his children, John Barry, Jr.and Susan Barry Rasmussen. Over the past six years, the company has seen tremendous growth, especially in its print services division which has doubled in volume every year since 2018. Currently, the logistics print partner for a multitude of national companies , including Minted, Shutterfly, Dunkin, Subway and Zola. , Fulfillment America will leverage capital from CSB to meet increased customer demand.
“Despite the supply chain challenges presented by the pandemic, Fulfillment America has experienced a period of rapid growth over the past few years, necessitating the need for a financial solution to maintain our momentum,” said Barry Jr., executive vice president at Fulfillment America. “Brian Annese has been a trusted partner for many years, and his support, guidance and expertise has enabled us to be the best possible partner for all of our valued clients.”
Fulfillment America was introduced to Brian Annese by his Certified Public Accountant (CPA), who has worked as the company’s CPA since its founding in 1992. While Fulfillment America’s business areas have been impacted by the pandemic, the demand for printing and e-commerce fulfillment services have increased in recent years.
“It’s always rewarding to have the opportunity to identify a creative solution that will meet the changing needs of a long-time partner,” said Brian Annese, Senior Vice President, Corporate Banking at CSB. “Like CSB, Fulfillment America takes a customer-centric approach to its business, and we are pleased to have been able to provide the loan structure and capital necessary to help the company meet the needs of its customers.”
CSB’s Commercial division is focused on meeting the needs of their local communities and businesses, offering a full suite of business lending, commercial real estate lending, cash management and business services solutions. Cambridge Savings Bank is the bank you can trust to provide personalized services to meet your business needs. To learn more about CSB’s custom solutions for commercial entities, please contact Brian Annese, Senior Vice President of Corporate Banking at [email protected].
About Cambridge Savings Bank
Cambridge Savings Bank is a full-service banking institution with over $5 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, our customers and the communities we serve. One of Massachusetts’ oldest and largest community banks, Cambridge Savings Bank offers a full range of personal and business banking services through a strong Massachusetts-based branch network and digital banking solutions for customers. traders, small businesses and consumers. In 2022, CSB received an investment grade rating from rating agency Kroll Bond, strengthening the bank’s position as a trusted corporate lender. To find out more about how CSB can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you get the most out of your banking relationship. FDIC member. Equal Housing Lender.
About Fulfillment America
Fulfillment America is a world-class fulfillment services company with corporate headquarters and production facilities located in Billerica, Boston, Massachusetts. Founded in 1992, Fulfillment America provides a wide range of fulfillment services to more than 100 domestic and international companies. Fulfillment America offers real-time web-based order processing and inventory management, email order confirmation, online tracking, and easy-to-use ad-hoc and custom reports. These services include e-commerce, B2C and B2B fulfillment, documentation, POP and other collateral materials, print-on-demand, 800 inbound services, kit assembly, picking and packaging. , warehousing and logistics. For more information, visit: www.fullmentamerica.com.