Kansas City-Based Scott Rice Buys Image Flooring C
Kansas, City, MO, July 2--Scott Rice Office Works LLC bought Kansas City-based Image Flooring Concepts Inc. for an undisclosed amount, according to the Kansas City Business Journal.
Scott Rice Office Works is a division of St. Louis-based Color Art Integrated Interiors Inc. The deal closed on Thursday, Mick McIntyre, Color Art's vice president of services, said Friday.
Former Image Flooring Concepts President Melissa Miller and former Vice President Jim Wilkinson will continue to be "significant" stockholders in the new Scott Rice Office Works division, called Image Flooring LLC, McIntyre said.
Image Flooring Concepts' 39 employees -- seven office workers and 32 union installers -- all transferred to the new division, Miller said. Miller and Wilkinson are vice presidents of the division.
Scott Rice Office works had 75 employees before the transaction, McIntyre said.
Image Flooring Concepts' 2003 revenue was $2.5 million, Miller said. Image Flooring anticipates revenue of $4.1 million this year, she said.
"We have been really pleased doing business with Melissa and Jim," McIntyre said. "Their business philosophies are really in line with ours."
Flooring is a natural addition for Scott Rice Office Works because it adds to the company's construction, installation, technology and facility portfolio, McIntyre said.
"The acquisition strengthens our ability to support facility managers, real estate managers, designers, architects and contractors," McIntyre said.
Image Flooring will continue to operate at its downtown office until the fall, when it will move to the Scott Rice Knowledge Center in Lenexa.
McIntyre said Color Art Integrated Interiors anticipates revenue of $75 million this year, including $25 million at Scott Rice Office Works.
