Recently, Flacks Group, a global investment company headquartered in the United States, announced the acquisition of Kelly-Moore ( Kelly-Moore Paints) Company, Kelly-Moore Paints, Inc. is a leading manufacturer and retailer of premium paints and coatings in the United States. Financial terms of the deal, which ended Kelly Moore's 76-year independent ownership, were not disclosed.
Flacks Group managing director Charles Gassenheimer said the deal eliminated Kelly- Moore Paints' significant debt load put the company on a path of growth and expansion. We're interested in Kelly Moore's growth. This is a highly opportunistic deal that will allow for tremendous growth and scale. "
According to China and Foreign Paint Network, Kelly-Moore Paint Company was founded in California in 1946 San Carlos, California, is one of the largest independent paint companies in the United States, with an annual revenue of more than 400 million US dollars (about 2.85 billion yuan) and more than 1,200 employees. The company sells its products through 157 company-managed retail stores and a network of authorized retailers in North America.
Kelly-Moore Paints at its Hearst, Texas manufacturing facility The factory produces technologically advanced paint products and sets industry standards for new product development and quality control, and is recognized by the industry as "A Painter's Paint Shop!". The company is understood to sell 90% of its products to specialty paint contractors and other trade professionals, and is respected for providing excellent value, efficient service and reasonable prices.
“This is an exciting time for Kelly-Moore Paints moment," said Steve De Voe, Chairman and CEO of Kelly-Moore Coatings. Provide the best product and experience and remain highly competitive in the market.”
Discussing the acquisition of Kelly-Moore Coatings, Charles Gassenheimer, Managing Director of Flacks Group said, "Kelly-Moore Paints is a true heritage brand that resonates across generations. Since 1946, the company's high-quality products have exemplified American manufacturing and its exceptional service has earned the company a loyal following." customer base."
In the process of acquiring Kelly-Moore Coatings, Flacks Group used the largest Flexibility, as it acquired the paint retailer, distributor and manufacturer in an all-cash deal.
Flacks Group May Maximize Kelly-Moore Coatings, According to Flacks Group Manufacturing facility in Texas. Gassheimer said, "Besides the production base, another potential growth point is the Kelly-Moore distribution complex in Union City. We think of 'engine' as a manufacturing facility in Texas, but 75% of the company's revenue comes from Union City. City distribution center, which is the key to our store network in California.”
It is worth noting that Flacks Group intends to use Kelly-Moore Coatings as a platform , adding more acquisitions for the retail company, allowing for greater growth and broader reach. "We have no outside investors and we are not responding to pressure from outside investors," Gassheimer said. "We will focus on the needs of the business and make decisions based on what is in the best interest of the business."
China Foreign Paint Network understands that the acquisition of Kelly-Moore Coatings is a multi-stage investment by Flacks Group Part of the program, targeting industrial companies with a strong manufacturing footprint and global distribution. The acquisition, combined with its existing portfolio company Pleuger Industries of Germany, puts Flacks Group's vertical industrial business on track to generate revenues in excess of $1 billion over the next two to three years.
Flacks Collection��Specializes in the acquisition and transformation of operations of medium-sized companies, investing in companies with traditional brands, whose business is often considered unpopular for various reasons. While other investors have passed on opportunities, Flacks Group sees value and works with businesses to find the best way to move them forward. The corporate team remains open to global deals that meet its criteria and will enhance the synergy platform of current businesses in its portfolio.
Information shows that Flacks Group, headquartered in Miami, Florida, is a company focused on acquisitions and Global investor in special situations developing small and medium-sized companies with revenues between $50 million and $2 billion. Being industry agnostic, the Flacks Group's portfolio of companies represents diverse industries including manufacturing, industrial, process and engineering. Flacks Group brings the resources, synergies and exceptional management expertise to position its investments for sustainable growth, in close coordination with employees and clients.
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