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.
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