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Graco Completes Acquisition of High Pressure Equipment Company

MINNEAPOLIS--(BUSINESS WIRE)--Jan. 20, 2015-- Graco Inc. (NYSE:GGG) announced today that it has completed the acquisition of the stock of High Pressure Equipment (HiP) company for $160 million. HiP is a Pennsylvania based manufacturer of valves, fittings, and other flow control equipment engineered to perform in ultra-high pressure environments, from 10,000 to 150,000 psi. HiP also maintains an engineering and production base in Stoke-on-Trent, Staffordshire U.K.

“We are pleased to formally welcome HiP to the Graco family,” said Graco President and CEO Patrick J. McHale. “Their sophisticated technologies and in-depth market experience will be of significant value to Graco.”

ABOUT GRACO

Graco Inc. supplies technology and expertise for the management of fluids and coatings in both industrial and commercial applications. It designs, manufactures and markets systems and equipment to move, measure, control, dispense, and spray fluid and powder 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