Kaloutas Painting announces its first acquisition

PEABODY, Mass. - March 11, 2014 - PRLog -- Kaloutas Painting (www.kaloutas.com), a   commercial painting company serving clients throughout New England since 1987, today announced the acquisition of Ipswich, MA-based sister companies Clean World Floors and Res-Stone Industrial Flooring.

This is the first acquisition for the 27-year old Kaloutas Painting; President Jim Kaloutas characterizes the acquisition as a strategic move that expands his company’s scope of services and client base.

Clean World Floors (www.cleanworldfloors.com) and its sister company Res-Stone (www.res-stone.com)  specialize in the delivery of a product line that consists of high performance seamless epoxy industrial flooring, ESD, decorative seamless flooring, wall systems, waterproofing systems, anti-microbial systems, dust-free shot blasting, and diamond grinding and polished concrete  for commercial and industrial applications, and, through Res-Stone, the installation of commercial and industrial flooring systems throughout the Northeast.

For nearly fifteen years, this 11-person firm has provided sales and installation services for clients including Fortune 1000 companies, cutting-edge manufacturers, pharmaceutical plants and many government and defense contracting facilities, among others.

The Clean World/Res-Stone operations and headquarters will be relocated from Ipswich to the Kaloutas campus at 11 Railroad Avenue, Peabody, MA. All of the company’s 11 employees will remain with the company, which will for the present term use the name “Res-Stone” with the addition “A Kaloutas Company.” Kaloutas did not disclose the purchase price but said that the combined Clean World/Res-Stone entity reliably produced nearly $2.5 million in revenues annually over the last several years.

Kaloutas will serve as President and CEO of the new, combined company.  Doug Blake of Salem, MA, owner of Clean World and the person who served as the Executive Sales Manager for Res-Stone, will join the Kaloutas team in the capacity of Director of the Industrial Flooring Division.

According to Kaloutas, his company’s business plan has called for an expansion of the company’s offerings, and that the Clean World/Res-Stone acquisition is perfectly timed to achieve this goal. Kaloutas Painting and Clean World/Res-Stone have shared some common clients over the past few years, including Pratt & Whitney, GE and a number of restaurants, breweries and industrial facilities. “Being able to offer commercial and industrial flooring solutions to our painting clients will be a great value-add,” said Kaloutas, who said he also expects that a number of Res-Stone clients will also become Kaloutas Painting clients. “The two services will dovetail nicely and we expect to see growth of 20% to 25% in 2014 as a result of this acquisition,” he said.

He added, “We have worked with Doug Blake and the Res-Stone team in the past and know that they have an excellent reputation for top quality work. We are happy to extend them a very hearty welcome and look forward to working together with a strong team approach.”

About Kaloutas Painting

Kaloutas Painting is a leading commercial painting company serving the needs of clients throughout New England and beyond. With headquarters at 11 Railroad Avenue, Peabody, MA, and branch locations in Bedford, NH, and Providence, RI, Kaloutas Painting has grown considerably from the early days in 1987 when founder Jim Kaloutas launched the company. Originally created as a residential painting service, the firm has grown into a full-service commercial painting company that offers a wide scope of services that include commercial painting (both interior and exterior), industrial painting, epoxy floor coatings, environmental painting and treatment, fireproofing, and more. Kaloutas Painting offers an extensive range of products, including the most environmentally-friendly coverings. Industries served by Kaloutas Painting include restaurants, retail stores, automobile dealers, aircraft manufacturers, theatres, and educational institutions, among others.  The company has an excellent safety record and a highly-trained field staff of more than 80 professionals, all trained to the highest of standards. Kaloutas Painting invests significant time and resources into hiring only the most skilled in its industry. Recently, the company has also launched a Facilities Management program that provides ongoing maintenance for facilities so that they can look their best all year round. To learn more about Kaloutas Painting, please visit www.kaloutas.com, or call 978-854-5510.