Friday, April 10, 2015
Graco Inc. announced that it has completed Liquid Finishing business assets to Carlisle Companies Incorporated for $590 million, subject to customary post-closing adjustments.
Net proceeds from Graco’s investment in the Liquid Finishing business assets and the sale transaction is $580 million, reflecting the $590 million purchase price adjusted for estimated to be approximately $30 million of cash dividends received in the first quarter. Consistent with prior quarters, such dividends will be recognized as other income on Graco’s consolidated statement of earnings.
The Liquid Finishing business assets sold to Carlisle include those involved in the development, manufacture, and sale of Binks® spray finishing equipment, DeVilbiss® spray guns and accessories, Ransburg® electrostatic equipment and accessories, and BGK curing technology.
The Liquid Finishing business assets sold to Carlisle include those involved in the development, manufacture, and sale of Binks® spray finishing equipment, DeVilbiss® spray guns and accessories, Ransburg® electrostatic equipment and accessories, and BGK curing technology.
Tags: Business, Graco Inc., Investment, Liquid Finishing, Sales
