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Graco Acquires Gema, Binks & DeVilbiss Finishing Brands, But FTC Decision Pending
Apr 6, 2012
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Graco Inc. closed on its $650 million acquisition of the Illinois Tool Works finishing businesses. The company previously announced that it reached an agreement with the United States Federal Trade Commission that allowed for closing to occur while the FTC investigates and considers a settlement proposal from Graco.

The acquisition includes powder and liquid finishing equipment operations, technologies, and brands. In powder finishing, Graco added Gema, a global leader in powder coating technology. In industrial liquid finishing, the acquisition includes Binks spray finishing equipment, DeVilbiss spray guns and accessories, Ransburg electrostatic equipment and accessories, and BGK curing technology.

As disclosed on March 27, 2012, the FTC issued an order for Graco to hold the Liquid Finishing assets separate from the Powder Finishing and other Graco businesses while the FTC investigates and considers a settlement proposal from Graco. To comply with the FTC order, the Liquid Finishing businesses were acquired into a structure that limits commingling of the Liquid Finishing operations with Graco's other businesses. Although the Liquid Finishing businesses are wholly owned by Graco, they will be run independently by existing management under the supervision of a trustee who reports directly to the FTC.

At the completion of its review, the FTC will issue a final decision and order that will identify the products, businesses and/or assets that Graco will be required to divest. Such divestiture must be completed in the 180 days following the issuance of the final decision and order and may include up to all of the Liquid Finishing businesses.

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