Graco Announces Two Recent Acquisitions
January 02 2014 - 9:00AM
Business Wire
Graco Inc. (NYSE:GGG) announced today that it completed
two acquisitions in December 2013.
- QED Environmental Systems (QED) is a
leading manufacturer of fluid management solutions for the growing
environmental monitoring and remediation markets.
- EcoQuip designs and produces
eco-friendly vapor abrasive blasting systems for coating removal
and surface preparation.
“Both companies operate in attractive niche markets where Graco
currently has little or no exposure,” said Patrick J. McHale,
Graco’s President and Chief Executive Officer. “We expect that the
specialized fluid management products of QED and EcoQuip will
benefit from Graco’s commitment to innovative new product
development, an exposure to a global distribution channel, and the
Company’s expertise in manufacturing efficiencies.”
Headquartered in Dexter, Michigan, QED is a leading manufacturer
of environmental monitoring and remediation systems. The company
produces a variety of pump systems for groundwater sampling and
remediation efforts; landfill liquid and gas management; and the
removal of harmful chemicals from groundwater and drinking water
supplies. QED employs approximately 80 people between its Dexter
headquarters and a production facility in San Leandro,
California.
EcoQuip is a producer of specialized vapor abrasive blasting
systems for coating removal and surface preparation. The company
produces environmentally-friendly blasters that eliminate most
air-borne dust particles, while using less water and less media to
accomplish the tasks of traditional sand-blasters. Typical
applications for EcoQuip’s products include industrial maintenance
for shipyards, storage tanks and off-shore oil rigs; surface
preparation prior to bonding or repainting in the housing and
automotive industries; and roadway marking removal.
Combined sales for the two acquisitions for the most recent
trailing twelve month period were approximately $30 million. Other
financial terms of the transactions were not disclosed.
ABOUT GRACO
Graco Inc. supplies technology and expertise for the management
of fluids and coating in both industrial and commercial
applications. It designs, manufactures and markets systems and
equipment to move, measure, control, dispense, and spray fluid
materials. A recognized leader in its specialties,
Minneapolis-based Graco serves customers around the world in the
manufacturing, processing, construction, and maintenance
industries. For additional information about Graco Inc., please
visit us at www.graco.com or on Twitter @GracoInc.
Graco Inc.James A. Graner, 612-623-6635orMedia:Bryce
Hallowell 612-623-6679bhallowell@graco.com
Graco (NYSE:GGG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Graco (NYSE:GGG)
Historical Stock Chart
From Jul 2023 to Jul 2024