When all other investors pass on an opportunity and options are exhausted, Flacks Group sees value and works with companies to find the best way to take their business forward. The acquisition, when combined with its existing portfolio company Germany-based Pleuger Industries, puts Flacks Group’s industrial vertical on track to exceed $1 billion in revenues in the next two to three years.įlacks Group invests in companies with heritage brands that operate businesses often considered out-of-favor for a variety of reasons. The purchase of Kelly-Moore Paints is part of Flacks Group’s multi-stage investment thesis around industrial companies with strong manufacturing footprints and global distribution. Gassenheimer added, “We see this transaction as a platform with the potential for bolt-on acquisitions in the small and mid-size paint spaces.” “Since 1946, the company’s high-quality products have exemplified American manufacturing and its exceptional service has earned the company a loyal customer base.”
“Kelly-Moore Paints is a true legacy brand that resonates across multiple generations,” said Charles Gassenheimer, Managing Director at Flacks Group.
KELLY MOORE CALIBRE SYSTEMS CONTACT PROFESSIONAL
“Our customers are at the center of everything we do and under the ownership of Flacks Group, we will have the resources and ability to continue to innovate and deliver the best products and experiences to our customers in the professional paint industry and remain highly competitive in the marketplace.” “This is an exciting time for Kelly-Moore Paints,” said Steve De Voe, chairman and CEO of Kelly-Moore Paints. Long recognized as “The Painter’s Paint Store!” and revered for offering exceptional value at a fair price, the company sells 90 percent of its products to professional paint contractors and other trade professionals. Kelly-Moore Paints produces its technologically advanced paint products at its manufacturing facilities in Hurst, Texas. The company distributes products through 157 company-managed retail stores and a network of authorized retailers across North America. Financial terms of the transaction were not disclosed.įounded in San Carlos, California, in 1946, Kelly-Moore Paints is one of the nation’s largest independent paint companies, with more than $400 million in annual revenues and over 1200 employees. MIAMI-( BUSINESS WIRE)-Flacks Group, a global investment firm based in the U.S., today announced it has acquired Kelly-Moore Paint Company, a leading manufacturer and retailer of premium paints and coatings in the U.S.
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