Cohesant Technologies Inc. (Indianapolis, Ind.) has entered into a definitive agreement in which Graco Inc. (Minneapolis, Minn.) will acquire Cohesant’s GlasCraft Inc. subsidiary, also based in Indianapolis. The total transaction value is $35 million (USD).
GlasCraft developed the first spray system for composites manufacturing nearly 45 years ago and today manufactures and sells solutions for the open and closed-mold segments of the composites manufacturing industry. GlasCraft also designs, manufactures and sells high-performance dispensing systems for the polyurethane foam and polyurea coatings industries.
Graco is a designer, manufacturer, and marketer of systems and equipment to move, measure, control, dispense and spray fluid materials. Aside from the GlasCraft business, it has no substantial presence in the composites manufacturing industry. The acquisition is expected to be complete in the first quarter of 2008.