Graco Inc. recently announced it has closed on its $650 million acquisition of the Illinois Tool Works Inc. finishing businesses. The company previously announced that it reached an agreement with the U.S. Federal Trade Commission (FTC), which allowed for closing to occur while the FTC investigates and considers a settlement proposal from Graco.
The acquisition includes complementary powder and liquid finishing equipment operations, technologies and brands. In powder finishing, Graco has added Gema®, a global leader in superior powder coating technology (the “Powder Finishing” business), and approximately one-third of the purchase price is expected to be allocated to this business.
In industrial liquid finishing, the acquisition includes Binks® spray finishing equipment, DeVilbiss® spray guns and accessories, Ransburg® electrostatic equipment and accessories and BGK curing technology (excluding Powder Finishing).