Flacks Group Acquires Kelly-Moore Paint Company

Flacks Group, a global investment firm, announced it has acquired Kelly-Moore Paint Company. Founded 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 1,200 employees. The company distributes products through 157 company-owned retail stores and a network of authorized retailers across North America. Kelly-Moore Paints produces its technologically advanced paint products at its manufacturing facilities in Hurst, Texas. The company sells 90% of its products to professional paint contractors and other trade professionals.

“This is an exciting time for Kelly-Moore Paints,” said Steve De Voe, chairman and CEO of Kelly-Moore Paints. “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.”

“Kelly-Moore Paints is a true legacy brand that resonates across multiple generations,” said Charles Gassenheimer, managing director at Flacks Group. “Since 1946, the company’s high-quality products have exemplified American manufacturing and its exceptional service has earned the company a loyal customer base. We see this transaction as a platform with the potential for bolt-on acquisitions in the small and mid-size paint spaces.”

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.

For more information, visit www.flacksgroup.com.

KEYWORDS: mergers and acquisitions