White Knight Fluid Handling’s high purity, metal free pumps are used to deliver, circulate, reclaim and transport chemical fluids and slurries that are used in the production of semiconductors, solar panels, LED flat panel displays, and other electronics. The company’s fluid management solutions, including pumping solutions, are also used in chemical applications such as dosing, spiking, photoresist, etching, cleaning and blending.
Graco is also acquiring the Erie, Pennsylvania-based High Pressure Equipment (HiP) company for US$160 million. HiP designs and manufactures valves, fittings and other flow control equipment used in ultra-high pressure environments.
Graco completed two other acquisitions in December 2014: Canadian blasting equipment manufacturer GeoBlaster Equipment Sales & Services Inc and Brazilian finishing products company Multimaq-Pistolas e Equipamentos Para Pintura Ltda.
The combined cash purchase price to acquire the four businesses is approximately US$185 million, with additional consideration to the former owners of White Knight Fluid Handling if the acquired business achieves certain growth targets.
The four businesses had aggregate sales and EBITDA of approximately US$50 million and US$17 million, respectively, in the most recent 12 month period.
