Graco to acquire Corob, a coatings solutions provider
Graco announces that it has entered into a definitive agreement to acquire Corob for €230 million, subject to customary adjustments, with up to €30 million in additional contingent consideration. The transaction is expected to close in Graco’s fiscal fourth quarter following the satisfaction of customary closing conditions. Corob had revenue of €110 million in 2023.
Graco supplies technology and expertise for the management of fluids and coatings in both industrial and commercial applications. It designs, manufactures and markets systems and equipment to move, measure, control, dispense and spray fluid and powder materials.
“The addition of Corob to our portfolio builds on our global position in the growing paint and coating machinery manufacturing category within our contractor segment,” said Mark Sheahan, Graco’s president and CEO. “This acquisition advances our key strategies of global growth and expanding into new and adjacent markets.”
Corob is a provider of design and manufacturing of high-performance volumetric and gravimetric dispense, mixing, and shaking equipment used in mission-critical tinting applications. Corob has more than 600 employees worldwide and is headquartered in Italy with additional manufacturing operations in India and Canada.
