 |
Graco Acquires Liquid Control Corporation
01/02/2005 - Graco Inc. has signed an agreement to purchase the stock of Liquid Control Corporation, Inc. and affiliated company Profill Corp., of North Canton, Ohio. The acquisition includes Liquid Corp subsidiaries Decker Industries, Inc. of Palm City, FL and Liquid Control Limited of Wellingborough, UK. Liquid Control is a leading designer and manufacturer of highly engineered precision resin dispensing equipment solutions. The cash purchase price was not disclosed. Liquid Control, whose fiscal year ended in September, had 2004 sales of approximately $26 million.
Graco’s President and CEO David Roberts said, “We are excited about this opportunity to expand our presence in the sealants and adhesives equipment market. Liquid Control is well recognized for its plural component resin dispensing solutions covering an array of applications including general assembly, electronic assembly, fabrication, composite manufacturing and polyurethane molding. Founded in 1975, Liquid Control has established a strong quality brand reputation in its markets. The company has approximately 150 employees including an experienced management team that will be staying with the business. We see a good fit between our two companies and are excited about the prospects for future revenue and earnings growth.”
The move is “very positive,” adds Liquid Control Chairman and CEO William Schiltz. “Graco is in an expansion mode and has the ability to take Liquid Control into global markets that were out of our reach. It’s an opportunity for Liquid Control to grow.”
|
| |
|
|