Flacks Group announces that it has acquired Kelly-Moore Paint Company, manufacturer and retailer of premium paints and coatings in the U.S.
Revenue to Exceed $1 billion
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. 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.
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This is an exciting time for Kelly-Moore Paints,” said Steve De Voe, chairman and CEO of Kelly-Moore Paints.
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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,” added Voe.
Charles Gassenheimer, managing director at Flacks Group said, “
We see this transaction as a platform with the potential for bolt-on acquisitions in the small and mid-size paint spaces.”
Source: Flacks Group