CHARLOTTE, NORTH CAROLINA, April 1, 2015 – Carlisle Companies Incorporated (NYSE:CSL) announced today that it has completed the purchase from Graco Inc. (NYSE:GGG) and its subsidiary, Carlisle Fluid Technologies Holdings Inc. of their held separate finishing business assets (“Carlisle Fluid Technologies”), pursuant to the previously announced purchase agreement with Graco for $590 million in an all-cash transaction.
With annual sales of approximately $275 million, Finishing Brands is a global manufacturer and supplier of finishing equipment and systems serving diverse end markets for paints and coatings, including OE automotive, automotive refinishing, aerospace, agriculture, construction, marine, rail and other industrial applications. The business operates from 26 locations in seven countries. Finishing Brands manufactures and sells products under the well-known brand names of Binks®, DeVilbiss®, Ransburg® and BGK®. The business is expected to be accretive to Carlisle in the first year. Finishing Brands is becoming a new reporting segment within Carlisle Companies named Carlisle Fluid Technologies.