Graco Inc.
Headquarters in Minneapolis | |
| Type | Public |
|---|---|
| Industry | Manufacturing |
| Founded | 1926 |
| Founder |
|
| Headquarters | , United States |
Area served | Worldwide |
Key people |
|
| Products | Fluid and Powder Handling Equipment |
| Revenue | US$2.11 billion (2024) |
| US$570 million (2024) | |
| US$486 million (2024) | |
| Total assets | US$3.14 billion (2024) |
| Total equity | US$2.58 billion (2024) |
Number of employees | 4,300 (2024) |
| Divisions | Contractor, Industrial, Process |
| Website | graco |
| Footnotes [1] | |
Graco Inc. is an American manufacturer of fluid-handling systems and equipment, headquartered in Minneapolis, Minnesota. Founded in 1926 as the Gray Company, it adopted its present name in 1969 and is listed on the New York Stock Exchange (NYSE: GGG) as a component of the S&P 400.[2] Its products, sold worldwide, include spray-finishing, pumping, dispensing, and lubrication equipment for industrial, contractor, and process applications.
History
Russell Gray, a Minneapolis parking lot attendant, founded Gray Company, Inc. in 1926 with his brother Leil Gray to produce and sell Russell's air-powered grease gun, invented in response to cold weather making hand-powered grease guns inoperable.[2] In its first year of operation, sales were $35,000.[2]
By 1941, annual sales had reached $1 million.[2] During World War II it supplied lubricating equipment for defense use. After the war, Graco moved beyond lubricant handling, developing a paint pump and pumps that drew industrial fluids directly from the drum.
By the mid-1950s, sales had reached $5 million and the company employed 400 people.[2]
Leil Gray died in 1958, and was succeeded as president by Harry A. Murphy.[2] He was succeeded in turn by David A. Koch in 1962.[2] The company continued to expand, helped by the 1957 introduction of the airless spray gun. By 1969, when Gray Company went public and changed its name to Graco, it had annual sales of $33 million.[2]
After acquiring H. G. Fischer & Co., a manufacturer of electrostatic finishing products, Graco benefited from a shift in automobile painting from air-based to electrostatic technology.[2] By 1979, sales had reached $100 million.[2]
In 1981, Graco started a joint venture called Graco Robotics, Inc. (GRI) with Edon Finishing Systems.[2] George Aristides, a 20-year company veteran, became president and chief operating officer in June 1993.[2]
David Roberts, recruited from the Marmon Group, became president and chief executive officer in 2001.[3] He left in 2007 to lead Carlisle Companies and was succeeded as chief executive by Patrick J. McHale.[4]
Graco agreed in April 2011 to acquire the finishing businesses of Illinois Tool Works for $650 million.[5] In December 2011 the Federal Trade Commission issued an administrative complaint to block the deal, contending it would reduce competition in liquid finishing equipment.[5] The acquisition closed in 2012; Graco subsequently divested the liquid finishing operations, which it sold in 2014, while retaining the Gema powder-coating business.[6] Mark W. Sheahan succeeded Patrick J. McHale as president and chief executive officer in June 2021.[1][7]
In 2026, Graco broke ground on a new headquarters in Dayton, Minnesota, a northwestern suburb of Minneapolis, and planned to relocate there by mid-2027.[8]
Acquisitions
Graco has grown in part through acquisitions. The following are among its larger transactions.
| Year | Target | Business | Value |
|---|---|---|---|
| 2005 | Gusmer Corporation and Gusmer Europe | Two-component dispensing equipment | $65 million[9] |
| 2012 | Finishing businesses of Illinois Tool Works | Paint and powder finishing | $650 million[6] |
| 2024 | PCT Systems | Cleaning systems for semiconductors and optics | Undisclosed[10] |
| 2024 | Corob S.p.A. | Dispensing and mixing equipment | €230 million[1][11][12] |
| 2025 | Color Service S.r.l. | Automated dosing and dispensing systems | €63 million[13] |
| 2026 | Valco Melton | Adhesive application and quality-assurance systems | $447 million[14][15] |
Operations
Graco classifies its business into three reportable segments: Contractor, Industrial, and Process. It distributes its products worldwide through a network of independent distributors.[1]
The Contractor segment, the largest at about 47 percent of 2024 sales, makes sprayers that apply paint to walls and other structures, with models for users ranging from do-it-yourself homeowners to professional contractors.[1]
The Industrial segment, about 29 percent of 2024 sales, comprises the Industrial and Powder divisions and supplies equipment for moving and applying paints, powder coatings, sealants, adhesives, and other fluids.[1]
The Process segment, about 24 percent of 2024 sales, comprises the Process and Lubrication divisions and makes pumps, valves, meters, and accessories that move and dispense fluids such as chemicals, oil and natural gas, water, wastewater, food, and lubricants.[1]
Products
Graco makes equipment for moving, measuring, controlling, dispensing, and spraying fluid and powder materials. Its product lines include airless and air-assisted paint sprayers, line-striping machines, industrial transfer pumps, sealant and adhesive dispensing and metering systems, and automatic lubrication systems.[16]
References
- ^ a b c d e f g "2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 18, 2025.
- ^ a b c d e f g h i j k l "Graco Inc". Encyclopedia.com. Archived from the original on November 26, 2025. Retrieved June 16, 2026.
- ^ "Minneapolis-based Graco names Roberts president and CEO". Finance & Commerce. June 8, 2001. Retrieved June 16, 2026.
- ^ "Graco names McHale as CEO". Pioneer Press. June 12, 2007. Retrieved June 16, 2026.
- ^ a b Bliss, Jeff (December 15, 2011). "Graco's Bid for Paint Equipment Maker Challenged by U.S. FTC". Bloomberg News. Retrieved June 15, 2026.
- ^ a b "Graco Sells Part of 2012 Acquisition After Fed Orders". Twin Cities Business. October 18, 2014. Archived from the original on April 1, 2023. Retrieved June 16, 2026.
- ^ "Patrick J. McHale to Retire as Graco's President & CEO; Graco appoints Mark W. Sheahan as successor". U.S. Securities and Exchange Commission. February 16, 2021. Retrieved June 16, 2026.
- ^ Kennedy, Patrick (May 23, 2026). "Graco HQ move from Minneapolis to northwest suburbs on track". Star Tribune. Archived from the original on May 24, 2026. Retrieved June 16, 2026.
- ^ "Graco Acquires Gusmer Corporation and Gusmer Europe, S.L." U.S. Securities and Exchange Commission. February 4, 2005. Retrieved June 15, 2026.
- ^ "Graco Boosts Portfolio With the Acquisition of PCT Systems". Zacks Equity Research. August 27, 2024. Retrieved June 16, 2026 – via Yahoo Finance.
- ^ "Graco Inc. Finalizes Acquisition of Corob S.p.A." Paint & Coatings Industry. November 27, 2024. Retrieved June 16, 2026.
- ^ "I soci di Corob firmano un accordo con Graco Inc. per la cessione della società". Il Sole 24 Ore (in Italian). October 7, 2024. Retrieved June 15, 2026 – via NT+ Diritto.
- ^ "Color Service joins the Graco Group". Polimerica (in Italian). July 23, 2025. Retrieved June 16, 2026.
- ^ "Graco to Buy Adhesives Application Supplier Valco Melton for $447M". Modern Distribution Management. May 21, 2026. Retrieved June 16, 2026.
- ^ Sego, Alyxandra (May 21, 2026). "Minneapolis firm Graco to acquire Greater Cincinnati-based manufacturer for $447M". Cincinnati Business Courier. Retrieved June 15, 2026.
- ^ "Products". Graco. Archived from the original on November 2, 2018. Retrieved June 15, 2026.