Not JUST for hurricanes anymore
C & B Holding Company is being established by Charys Holdings based on it's intent to purchase Cotton Cos., a group of reconstruction and restoration firms based in Houston. Crochet and Borel Services Inc. (already owned by Charys Holdings) will be folded into Cotton Cos. and according to the press release it will be one of the largest companies of its kind in the world.
"Cotton has a strong core business that addresses a high volume of day-to-day catastrophes such as commercial fires and water damage, while C&B's business focuses on remediation of higher-end disasters, such as hurricanes and floods. We expect the combination to result in an even wider range of services for our customers and much larger and more consistent revenues and profits for Charys.
Cotton, has locations in Houston; Austin, Texas; Dallas/Ft. Worth; San Antonio, Texas; Atlanta; Charlotte, N.C.; Orlando, Fla.; Denver; Phoenix; Chicago; and Washington, D.C. Its clients include The Home Depot Inc. (NYSE: HD), Marriott, Starwood Hotels and Resorts, The Palm Restaurant, Food Lion and Sports Authority. In fiscal 2006, Cotton generated $80 million in revenue."
"The combined strength of these two industry-leading companies is a win for everyone concerned, from customers and employees, to shareholders and investors," said Billy V. Ray Jr., chairman and CEO of Charys. "Not only should it greatly enhance our revenues and profits, but it presents opportunities on a national and international scale for cross-marketing of complementary restoration services provided by our other subsidiaries -- CCI-Telecom, Inc. and Viasys Services Inc. In addition, we expect that it may create national and international opportunities for our Integrated Infrastructure Services operating subsidiaries."
From another article...
ATLANTA, July 26 /PRNewswire-FirstCall/ -- Charys Holding Company, Inc.("Charys") (OTC Bulletin Board: CHYS) announced today that Cotton Companies("Cotton"), which is under binding letter of intent with Charys, has received signed commitments from Gordmans Department Stores and Highpointe Hotel Corporation to participate in Cotton's Preferred Client Program. Cotton is a leading provider of fire and water restoration, reconstruction and remediation services. The Program provides clients with Cotton's year-round fire and water emergency services. With the addition of Gordmans' 60 store locations in 15 states and Highpoint's 12 hotels in Florida, Louisiana and Alabama, the Program now includes more than 1.2 billion square feet of property across the United States.
Cotton Companies' President and CEO, Pete Bell commented that because of its excellent reputation, work history and customer service, the company continues to add new clients on both the national and local levels. "Increasingly, customers are recognizing the benefits of setting up client service agreements before a disaster occurs. With the details of these agreements worked out ahead of time, clients such as Gordmans and Highpointe have the peace of mind of knowing that Cotton will respond immediately whenever they need our services...."
