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.
Copyright Business Wire 2015