Headlines

Graco Acquires ITW Finishing Businesses

April 27, 2011
/ Print / Reprints /
ShareMore
/ Text Size+

Graco Inc. recently announced that it has entered into a definitive agreement to purchase the operations of the finishing businesses of Illinois Tool Works Inc. (ITW) in a $650 million cash transaction. The ITW businesses manufacture and distribute equipment for industrial liquid finishing, powder coating, and automotive refinishing. The businesses had 2010 revenues of $305 million, 40% in the Americas and 60% elsewhere. The company has significant operations in the U.S., Switzerland, UK, Japan, Brazil and Mexico, with sales offices and distribution capabilities in several additional countries.

“This acquisition is an excellent strategic fit with Graco’s Industrial segment,” said Pat McHale, Graco CEO. “It will advance all of our stated core growth strategies: new products and technology, geographic expansion, and new markets. We gain a leading position in industrial powder paint equipment-a growing global market where we have no offering today.

“In liquid finishing, the acquired product technologies are complementary to Graco’s industrial offering and also give us a leading position in automotive refinish where we have little presence. The acquired businesses generate two-thirds of revenue outside North America, increasing our critical mass in important international and emerging markets.”

For more information, visit www.itw.com or www.graco.com.

Did you enjoy this article? Click here to subscribe to Adhesives & Sealants Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

In-Depth Features

These articles detail advantages and innovations for multiple end uses.

Podcasts

ExxonMobil Tackifier Expansion

Dwight Tozer, vice president of ExxonMobil’s Adhesion Industry business, discusses the company’s latest tackifier expansion project with Editor-in-Chief Susan Sutton.

More Podcasts

THE MAGAZINE

Adhesives & Sealants Industry Magazine

ASI April 2014 cover

2014 April

Our April issue focuses on pressure-sensitive adhesives, including a preview of PSTC's 2014 Tape Summit, as well as converting/packaging and composites!

Table Of Contents Subscribe

THE ADHESIVES STORE

handbook-sealant-tech.gif
Handbook of Sealant Technology

The Handbook of Sealant Technology provides an in-depth examination of sealants, reviewing their historical developments and fundamentals, adhesion theories and properties, and today’s wide range of applications.

More Products

asi1211p_Cover-DE.gifASI's Buyers' Guide

Annual purchasing resource for equipment used in the manufacture/formulation of adhesives, sealants, pressure sensitives, tapes and labels and for application of finished adhesives. 

Clear Seas Research

With access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

STAY CONNECTED

facebook_40px twitter_40  youtube_40pxlinkedin_40