Graco to Acquire ITW's Finishing Business
Graco said key figures for ITW’s finishing businesses include the following.
- 2010 revenues of global $305 million
- Operations located in the U.S., Europe, Japan and South America, and sales offices and distribution capabilities in several additional countries
- Technologies and brands, such as Gema powder finishing equipment, Binks industrial pumping solutions, DeVilbiss auto-refinish guns and accessories, Ransburg electrostatic guns and accessories, and BGK curing technology
- Global manufacturing capabilities and capacity
The transaction is scheduled to close in June at the earliest, pending regulatory reviews and other customary conditions, Graco said. Terms for the transaction are reported to be $650 million.