Graco acquires coating solutions provider Corob for €230 million

Graco announced that it has entered into a definitive agreement to acquire Corob for €230 million, subject to customary adjustments and up to €30 million in additional contingent consideration. The transaction is expected to close in Graco's fourth fiscal quarter, subject to customary closing conditions.

Graco provides technology and expertise for fluid and coating management in industrial and commercial applications. It designs, manufactures and markets systems and equipment for moving, measuring, controlling, dispensing and spraying fluid and powder materials.

"The addition of Corob to our portfolio strengthens our strong global position in the growing category of paint and coating machinery manufacturing in the contractor sector," said Mark Sheahan, Graco President and CEO.

"This acquisition advances our key strategy of global growth and expansion into new and adjacent markets. Like Graco, Corob has a strong track record of delivering sustained growth in global markets through innovation, quality and service, and we look forward to continuing to collaborate to achieve success."

Corob is a designer and manufacturer of high-performance volumetric and gravimetric dispensing, mixing and shaking equipment for mission-critical coloring applications. With over 600 employees worldwide and headquartered in Italy, with additional manufacturing operations in India and Canada, Corob has revenues of €110 million in 2023.