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Graco Acquires Gusmer Corp. And Gusmer Europe S.L.
February 21, 2005
Graco Inc. has announced the purchase, from affiliates of PMC Global, Inc. of Sun Valley, CA, of the stock of Lakewood, NJ-based Gusmer Corp. for $45 million in cash. In a related transaction, Graco also acquired the stock of Gusmer Europe S.L., based in Vilanova, Spain, for $20 million in cash. Gusmer Corp. and Gusmer Europe S.L. had combined 2004 sales of approximately $43 million. Gusmer is a leading designer and manufacturer of specialized two-component dispense equipment systems - as well as replacement parts - used in the operation of its equipment. Its dispense equipment systems are designed for use with multiple component formulations, such as polyesters, polyureas, polyurethanes and epoxies. Polyurea and epoxy coatings are used to coat concrete in new construction, metal tanks, cargo beds and metal substrates. Polyurethane is used for insulation, packaging, flotation devices and many other products.