The US Federal Trade Commission (FTC) has approved engineering and manufacturing firm, Carlisle, to purchase $590m worth of liquid finishing business assets from Graco and its subsidiary Finishing Brands.
The closing of the acquisition is expected to occur on or about April 1, 2015.
With annual sales of approximately $275m, Liquid Finishing Brands is a global manufacturer and supplier of finishing equipment to move, measure, control, dispense, and spray fluid and powder materials. Its systems serve diverse end markets for paints and coatings, including OE automotive, automotive refinishing, aerospace, agriculture, construction, marine, rail and other industrial applications.
Liquid Finishing Brands currently operates from 26 locations in seven countries and sells products under the brands Binks, DeVilbis, Ransburg and BGK.
Carlisle designs, manufactures and markets a wide range of products that serve a broad range of niche markets including: commercial roofing, energy, agriculture, mining, construction, aerospace and defense electronics, medical technology, foodservice, healthcare and sanitary maintenance. The Carlisle group generated $3.2bn in net sales in 2014.
Carlisle will include the Liquid Finishing Brands in a new industry segment named Carlisle Fluid Technologies.