MINNEAPOLIS--(BUSINESS WIRE)--Jan. 2, 2014--
Graco Inc.(NYSE:GGG) announced today that it completed two
acquisitions in December 2013.
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QED Environmental Systems (QED) is a leading manufacturer of fluid
management solutions for the growing environmental monitoring and
remediation markets.
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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.
Source: Graco Inc.
Graco Inc.
James A. Graner, 612-623-6635
or
Media:
Bryce
Hallowell 612-623-6679
bhallowell@graco.com
