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Graco Acquires Liquid Control Corp.

Published on 2004-12-27. Author : SpecialChem

Bill Schiltz, CEO and founder of Liquid Control and Ken Jacobs, President of Liquid Control are very pleased to announce that Graco Inc. will acquire a 100% ownership interest in Liquid Control Corporation and all of its affiliated companies effective January 1, 2005. This transaction is a stock acquisition and includes each of the following business units:

  • Liquid Control Corp., headquartered in North Canton, Ohio
  • Decker Industries, headquartered in Palm City,
  • Florida Liquid Control Ltd., headquartered in Wellingborough, United Kingdom
  • Profill Corporation, headquartered in North Canton, Ohio

Graco has also purchased the North Canton and Wellingborough facilities and will assume the lease of the Decker facilities in Palm City thus making a strong commitment to each of these communities. Liquid Control will continue to operate using the Liquid Control name and brands, and will become a wholly owned subsidiary of Graco Inc.

Bill Schiltz will be retiring after dedicating the last 40 years to the precision dispensing equipment industry and the growth of Liquid Control. Ken will continue on as President of Liquid Control and its affiliated companies and there are no plans to eliminate or otherwise materially impact any employee positions of any business unit.

Both companies are very confident that by combining Graco's fluid handling technology, financial resources and global structure with Liquid Control's wide product offerings in automated fluid dispensing and molding technology, a new force in the dispensing industry will soon be realized.

Graco, headquartered in Minneapolis, Minnesota, is a world leader in fluid handling systems and components. Graco's products move, measure, control, dispense and spray a wide range of fluids and viscous materials used in vehicle lubrication, commercial and industrial settings. Founded in 1926, Graco has over 75 years of experience serving over 40 industries. Graco currently has approximately 1700 employees located across the United States, Canada, Mexico, South America, Asia and Europe.

Graco's strategic objectives include growth by both acquisition and entry into new markets. This acquisition significantly strengthens and expands Graco's overall position in the sealants, adhesives, electrical potting and encapsulation, and urethane foam and elastomer markets, and gives Graco entry into new markets not served by them today. Liquid Control products, brands and engineering capabilities highly complement Graco's core businesses and strategic objectives and create an opportunity to leverage both companies' unique strengths.

The management teams of both Liquid Control and Graco are excited about the many opportunities that will result with the combining of our two companies. Liquid Control will continue to be focused on providing the best dispensing equipment and services available in the industry and expanding our product offerings with the best technology available.

Source: Liquid Control


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