Addition Brings in Respected, Well-Known Service-Industry Leader to Team of Shareholders
SPRINGVILLE, Utah--(BUSINESS WIRE)--Five Star Painting Inc., a leading painting franchise system, today announced the addition of Craig Donaldson as a significant member of its Board of Directors. Donaldson is the president of Chem-Dry, a wholly-owned subsidiary of The Home Depot.
With more than 2,600 U.S. and 1,500 international franchises operating in nearly 50 different countries, Chem-Dry is the world's largest provider of carpet and upholstery cleaning services.
Donaldson has led Chem-Dry as its president for 10 years. During this time, the company has been owned by two private equity firms — the Summit Partners for five years and the Nautic Partners for three years. In January 2006, Donaldson led the sale of Chem-Dry from the Nautic Partners to The Home Depot, and continues to help the company with ownership transition and integration into The Home Depot. In March 2006, Association for Corporate Growth (ACG) Utah honored Donaldson and his company with the Deal Maker of the Year award for the successful sale of Chem-Dry by a private equity firm to the mega-corporation, The Home Depot. Before joining Chem-Dry in 1997, Donaldson had a successful career with Avery Dennison, spending the better part of 13 years in Southern California and Boston as a business leader for Avery Dennison.
"Craig Donaldson will have a big impact on our company," said Scott Abbott, CEO of Five Star Painting. "He knows how to grow a successful service-industry franchise, and we know he will be a leading contributor to our plans as we rapidly expand. We are honored to have him as a board member and shareholder and plan to maximize his experience on behalf of our franchisees in a variety of exciting ways."
"Five Star is an exciting service-industry company," Donaldson remarked. "I am impressed with their management team, their technology, their commitment to franchisees and their growth, and I look forward to helping them continue down the path of becoming a leader in the service industry."
Five Star Painting's talented group of board members includes venture capital partners, strategic angel investors and institutional partners, who continue to help steer Five Star to the top of the service industry. Franchisees, both current and potential, will benefit greatly from the knowledge of this successful board and the direction it looks to take the company.
Formed in 2001 and franchising since 2005, Utah-based Five Star Painting Inc. has grown to 50 franchises in North America, with operations in the USA, Canada and Mexico. Five Star Painting offers its franchisees access to software, a 24/7 call center, marketing, training and management support. Customers of a Five Star Painting Franchise receive a Five Star job without a five star price. As one of the fastest-growing franchises in the service industry, Five Star Painting works with industry leaders to deliver business opportunities to entrepreneurs committed to a high level of customer service. For more information about Five Star Painting, please visit www.fivestarpaintingfranchise.com.