MINNEAPOLIS - Graco Inc. has agreed to acquire the stock of Pennsylvania-based High Pressure Equipment Co. (HiP) for $160 million. In addition, Graco announced that it has agreed to acquire the Utah-based White Knight Fluid Handling business, with the acquisition expected to close in January. The company also closed on two other acquisitions in December 2014, acquiring the assets of Ontario-based GeoBlaster Equipment Sales & Services Inc. and Brazil-based Multimaq-Pistolas e Equipamentos Para Pintura Ltda (Multimaq). Aggregate sales and EBITDA of the four businesses in the most recent 12-month period were approximately $50 million and $17 million, respectively.
“The acquisitions we are announcing today support our strategic growth plans to expand into new markets and geographies, while diversifying our portfolio of precision products for critical applications,” said Patrick J. McHale, Graco’s President and CEO.