Graco Acquires ITW Finishing Businesses
“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.