Graco Inc. said Monday it acquired Lubriquip Inc., a manufacturer of centralized and automated oil and grease lubrication systems, force-feed lubricators, metering devices and related electronic controls and accessories, from Idex Corp.
Terms of the deal weren't disclosed.Lubriquip is based in Warrensville Heights, Ohio, and will become part of Graco's Lubrication Equipment Division. Lubriquip had 2005 sales of approximately $30 million.
The company serves diverse applications in machine tools, transfer machines, conveyors, packaging machinery, transportation equipment, construction machinery, mobile on-road vehicles, rail applications, food processing and paper machinery, and its products are used to prolong equipment life, reduce maintenance costs and increase the productivity of expensive, performance critical customer equipment.
"The acquisition of Lubriquip establishes a strong presence for Graco in industrial lubrication end markets," said Graco's Chairman, President and Chief Executive Officer, David Roberts. "Both Graco and Lubriquip have long histories of designing, manufacturing, marketing and selling lubrication equipment and we will leverage the combined skills of both companies to benefit our customers, channel partners and shareholders."