FSPX...give a look see..Not a high volume issue but a rising star...
Five Star Products, Inc. is engaged in the wholesale distribution of home decorating, hardware and finishing products. They distribute paint sundry items; interior and exterior stains; brushes; rollers; caulking compounds and hardware products. Five Star offers products from manufacturers such as Cabot Stain; William Zinsser & Company; DAP; General Electric Corporation; American Tool; USG; Stanley Tools; Minwax and 3M Company. Five Star Products, Inc. has a newly formed wholly owned subsidiary Five Star Group, Inc. that purchased from JL Distributors, Inc. substantially all of the operating assets of JL Distributors on September 30, 1998. JL Distributors, Inc. is a wholly owned subsidiary of GP Strategies Corporation. The assets were purchased for $16,476,000 in cash and a $5,000,000 unsecured promissory note, which bears interest at the rate of 8%, payable quarterly. Five Star distributes its products to retail dealers, which include lumberyards, hardware stores and paint stores principally in the northeast region. The Company carries an inventory of the products it distributes and provides delivery, generally within 24 to 72 hours. Five Star has grown to be an independent distributor in the Northeast that provides products and delivery to its customers. Much of Five Star's success can be attributed to a continued commitment to provide customers with the service at reasonable prices. As a distributor of paint sundry items in the Northeast, Five Star enjoys cost advantages and favorable supply arrangements over the smaller distributors in the industry. They lease two strategically located warehouse distribution centers in New Jersey and Connecticut with approximately 347,000 square feet of space between them. Senior management from their offices in New Jersey coordinates all operations. Beginning in 2000, the Company has expanded its sales territory with an established, dedicated sales force servicing the Mid-Atlantic States, as far south as North Carolina. Five Star services this territory from the 236,000 square foot East Hanover, New Jersey facility, from which it currently services the Northeast. This enabled Five Star to leverage its fixed costs over a broader revenue base. For the year ended December 31, 2003 Five Star had sales of approximately $95,000,000. The Company's sales force generates revenues of approximately $9 million annually. They employ approximately 260 people.
Five Star Products Inc.
777 Westchester Avenue Fourth Floor White Plains NY 10604
Phone: (914) 249-9700
Fax:
Website
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