Graco Announces Acquisitions
Graco Inc. recently announced it has agreed to acquire the stock of High Pressure Equipment (HiP) for $160 million. The acquisition is expected to be completed in the first quarter. In addition, Graco has agreed to acquire White Knight Fluid Handling business, an acquisition expected to close early this month.
Graco also closed on two other acquisitions in December 2014. The company acquired the assets of Ontario, Canada-based GeoBlaster Equipment Sales & Services Inc. and Brazil-based Multimaq-Pistolas e Equipamentos Para Pintura Ltda. Aggregate sales and EBITDA of the four businesses in the most recent 12-month period were approximately $50 million and $17 million, respectively.
“The acquisitions we are announcing today support our strategic growth plans to expand into new markets and geographies, while diversifying our portfolio of precision products for critical applications,” said Patrick J. McHale, president and CEO.
For more information, visit www.graco.com.