Graco Inc. Acquires Radia Products, a Leading Manufacturer of Paint Mixing Equipment

Acquisition complements Graco’s position in the growing color solutions market

MINNEAPOLIS--(BUSINESS WIRE)--Graco Inc. (NYSE:GGG) announced today that it has acquired Red Devil Equipment Company, known in the market as Radia, in a transaction valued at $69 million. With annual revenue of more than $30 million, Radia is a manufacturer of mixing, shaking, and automated material handling equipment for the growing paint and coatings industry.

“Radia brings complementary capabilities to Graco’s Contractor business portfolio, enhancing our position in the color solutions space,” said Mark Sheahan, Graco’s President and CEO. “Our acquisition of Corob last year expanded our precision tinting and dispensing capabilities, while Radia strengthens our portfolio with advanced mixing and material handling equipment—creating a more complete solution for our customers.”

Radia serves paint retailers across North America – including hardware, paint, and big-box stores – with its reliable, automated mixing solutions. Headquartered in Plymouth, Minnesota, Radia employs approximately 30 people worldwide.

About Graco

Graco Inc. supplies technology and expertise for the management of fluids and powders in both industrial and commercial applications. It designs, manufactures and markets systems and equipment to move, measure, control, dispense and spray fluid materials. A recognized leader in its specialties, Minneapolis-based Graco serves customers around the world in the manufacturing, processing, and construction and maintenance industries. For additional information about Graco Inc., please visit us at www.graco.com.

Cautionary Statement Regarding Forward-Looking Statements

The Company desires to take advantage of the “safe harbor” provisions regarding forward-looking statements of the Private Securities Litigation Reform Act of 1995 and is filing this Cautionary Statement in order to do so. The Company’s statement about the expected closing date of the acquisition is a forward-looking statement. The expected closing and closing date of the acquisition could differ due to any event, change or other circumstance that prevents the parties from satisfying the closing conditions in a timely fashion or at all.