Graco Acquires QED and EcoQuip
Graco Inc., a manufacturer of fluid-handling systems based in Minneapolis, MN, rang in the New Year with two acquisitions: QED Enviromental Systems and EcoQuip.
QED , headquartered in Dexter, MI, manufactures environmental monitoring and remediation systems, including pump systems for groundwater sampling and remediation efforts; landfill liquid and gas management; and the removal of toxic chemicals from groundwater and drinking water supplies. The company is comprised of approximately 80 employees at both the Dexter headquarters and a production facility in San Leandro, CA.
EcoQuip is a producer of specialized vapor abrasive blasting systems for coating removal and surface preparation. Founded in 2005 by two brothers in Virginia, the company handles industrial, restoration, marine, graffiti and cleaning applications.
“Both companies operate in attractive niche markets where Graco currently has little or no exposure,” says Patrick McHale, Graco’s president and CEO. “We expect that the specialized fluid management products of QED and EcoQuip will benefit from Graco’s commitment to innovative new product development, an exposure to a global distribution channel, and the company’s expertise in manufacturing efficiencies.”
The two acquisitions have combined annual sales of approximately US$30 million.